Memorandum of association. London term used in connection with the incorporation of
companies; it means the charter of the company, which defines its powers and states its objects.
The Secretary's Manual on the Law and Practice of JointStock Companies quotes a statement by
Lord Justice Bowen which thus distinguishes the Memorandum and Articles of Association: "The
Memorandum contains the fundamental conditions upon which alone the company is allowed to be
incorporated. They are conditions introduced for the benefit of the creditors and the outside public
as well as shareholders. The Articles are the internal regulations of the company."