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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 corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document that, along with the memorandum of association (in cases where it exists) forms the company's constitution.
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.
Also, a memorandum can be amended or rescinded by either another memorandum or an order, while orders can only be affected by other orders.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.
A specific type of memorandum is the policy briefing note (alternatively referred to in various jurisdictions and governing traditions as policy issues paper, policy memorandums, or cabinet submission amongst other terms), a document for transmitting policy analysis into the political decision making sphere. Typically, a briefing note may be ...
Memorandum for the Heads of Executive Departments and Agencies, 3/20/09: March 20, 2009 () 23 Presidential Memorandum Regarding Deferred Enforced Departure for Liberians: March 23, 2009 () 24 Memorandum: Promoting Democracy and Human Rights in Cuba: April 13, 2009 () 25 Message to Congress from the President
The articles of the company stated that the directors could only borrow if authorised by a resolution of the company's general meeting, and could not borrow more than the amount specified in the resolution. The articles were registered with Companies House so there was constructive notice. But the bank could not have known about the resolution ...
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).