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A company is run by the directors, who are appointed by the shareholders. Usually, the shareholders elect a board of directors (BOD) at the annual general meeting (AGM), which may be statutory (e.g. India and the UK). The number of directors depends on the size of the company and statutory requirements.
By convention, most common law jurisdictions divide the constitutional documents of companies into two separate documents: [1]. the Memorandum of Association (in some countries referred to as the Articles of Incorporation) is the primary document, and will generally regulate the company's activities with the outside world, such as the company's objects and powers.
A memorandum (pl.: memorandums [1] [2] [3] or memoranda; from the Latin memorandum, "(that) which is to be remembered"), also known as a briefing note, is a written message that is typically used in a professional setting. Commonly abbreviated memo, these messages are usually brief and are designed to be easily and quickly understood. Memos can ...
Also, a memorandum can be amended or rescinded by either another memorandum or an order, while orders can only be affected by other orders. But orders are subject to stricter requirements.
The memorandum no longer restricts the activities of a company. Since 1 October 2009, if a company's constitution contains any restrictions on the objects at all, those restrictions will form part of the articles of association. Historically, a company's memorandum of association contained an objects clause, which limited its capacity to act.
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
Professional writing is writing for reward or as a profession; as a product or object, professional writing is any form of written communication produced in a workplace environment or context that enables employees to, for example, communicate effectively among themselves, help leadership make informed decisions, advise clients, comply with federal, state, or local regulatory bodies, bid for ...
The U.S. State Department reissued a "do not travel" advisory last September warning U.S. citizens not to travel to Venezuela "due to the high risk of wrongful detentions, terrorism, kidnapping ...