MOA and AOA, DOCTRINE OF ULTRAVIRE, INDOOR MANAGEMENT, CONSTRUCTIVE NOTICEAND RTI
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What is a Memorandum of Association (MOA) and what is its primary purpose?
The MOA is the charter document of a company that defines its fundamental constitution, scope of activities, and relationship with the outside world. It sets out the company's name, registered office, objects, liability, and capital.
What is the legal significance of the Name Clause in a company's Memorandum of Association?
It identifies the company and must end with 'Limited' or 'Private Limited'.
What are the six clauses typically contained in the Memorandum of Association of a company?
The six clauses are: Name Clause, Registered Office Clause, Objects Clause, Liability Clause, Capital Clause, and Association/Subscription Clause.
What is the Registered Office Clause in the MOA and what does it establish?
It fixes the state where the company's registered office is situated.
What is the Articles of Association (AOA) and how does it differ from the MOA?
The AOA contains the internal rules and regulations governing the management and administration of the company. While MOA defines the company's relationship with the outside world, the AOA governs the internal affairs and relationships among members and directors.
What is the Liability Clause in the MOA and why is it important for members?
It states whether member liability is limited by shares or guarantee.
Which document prevails in case of conflict between the MOA and the AOA?
The MOA prevails over the AOA in case of any conflict, as the MOA is the supreme document and the AOA must remain within the limits set by the MOA.
What is the Capital Clause in the Memorandum of Association?
It specifies the maximum authorized share capital of the company.
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