An association memorandum is a generalized legal document which is prepared in the organizations to include all the paperworks. It is formed at the time of commencement and the registration of the company to explicate the relationship of the member of the board and to justify the objective of the company. It is an important document that comes under company law. Because of the latest advancements in the educational system, the students are supposed to prepare the projects on the particular topic like this.
As the name suggests, it is a theoretical written work, so students often find it difficult, boring, or time consuming. Thus, they look for a renowned platform to seek company law assignment help. Below mentioned are the clauses that are included in the Memorandum of Association to prove the authenticity of the company.
Registered Office Clause
This clause of MoA contains the information of the physical existence of the company’s office. It lists the proper address of the office location and the nationality of the office. This information is stated under this clause to determine the jurisdiction and the court, in which the office falls.
Name Clause
This company clause is used to determine the particular company name. The company name that is mentioned in the clause should be unmatched from the other company names. If it is a public company, then it must have the suffix Limited. and if it is a private company, then it must end with the word Private Limited. A company name should justify the work that is done inside the firm as misleading deeds leads to the demolition of the organization.
Liability Clause
This clause evaluates the liabilities of the members of the company individually. there are few rules and regulations of drafting the clauses in MoA.
- If the company is unlimited, this clause is not mentioned in the MoA.
- If the company is limited by guarantee, then this clause defines that how much the liability is hold by the company members individually.
- If the company is limited by shares, then the liability of each member cannot be more than the face value of the shares each one of them holds.
Capital Clause
This clause includes the information about the total capital proposed in the particular company. The company is not allowed to collect more amount of money apart from the enlisted amount in the authorized capital. The division of capital in equity and preference share is to be included in the capital clause.
Object Clause
An object clause is also known as the objective clause. This clause is determined to evaluate the present limitations and the future scopes of the organization. Companies are not allowed to switch the business type that is once written during the framing of this clause by legal entities. It holds the details of the activities of the members and vision of expansion in the proposed capital amount. This category has 3 more sub-categories that are as follows:
i.) Main Objective - This included the main objective and nature of the business.
ii.) Incidental Objective - These are the supportive strategies that planned for the accomplishment of the main objective.
iii.) Other Objectives - Any additional objective of the company that cannot be mentioned in the main and incidental objective are included in this part of the document.
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