The document which is legal charter of a company that defines the limits of a company's field of operation is known as
Question 1 Report
The document which is legal charter of a company that defines the limits of a company's field of operation is known as
Answer Details
The document that serves as the legal charter of a company and defines the boundaries of its operations is known as the memorandum of association. This document outlines the company's objectives, activities, and powers, as well as its relationship with shareholders and the outside world. It acts as a guidebook for the company's existence and sets the rules and regulations by which the company must abide. In simpler terms, the memorandum of association is like the Constitution of a country, as it establishes the framework and scope within which the company operates.
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