A Memorandum of Association is applicable to a Joint company.
A Memorandum of Association is a legal document that sets out the constitution and objectives of a company. It contains the name of the company, its registered address, the objectives for which the company is established, and the types of activities the company is authorized to carry out. In a Joint company, which is a type of company that has multiple owners who share profits and liabilities, the Memorandum of Association is a crucial document that outlines the terms of the company's formation and the rights and responsibilities of each owner.