A memorandum of association is applicable to a

A memorandum of association is applicable to a joint stock company. A memorandum of association is a legal document that sets out the company's constitution and defines the scope of its activities. It is one of the key documents required for the formation of a joint stock company, which is a type of business organization that allows individuals to buy and sell shares in the company. In a joint stock company, the memorandum of association is a fundamental document that outlines the company's objectives, powers, and the rights and liabilities of its shareholders. It also includes details such as the company's name, registered office address, and the amount of share capital it has issued. A partnership, sole trader, and public corporation are different types of business structures that do not require a memorandum of association. Partnerships and sole traders typically have a partnership agreement or a proprietorship deed, while public corporations have articles of association or bylaws.