Charter. The charter of a company is the authority conferred upon it by a special act of
legislature to do business and the act defines the purposes and prescribes the privileges of the
company.  It is a common though incorrect practise to designate as a charter the articles of
incorporation of a company that is formed under the general laws. In such a case the company
merely is incorporated—not chartered—and its articles of incorporation are merely the papers it
files with the proper authority specifying its purposes, etc.  Also, the contract for the lease of a
vessel for a voyage is called a charter.