JAMB - Commerce (2019 - No. 41)
The difference between Articles of association and memorandum of Association is that the latter deals
with the Internal working relationship of the company and its members
with the powers and relationships of the company with outsiders
The method of issue, transfer and future of the company's shares
The rights and responsibilities of shareholders
Explanation
Memorandum of Association contains what is generally called the "external" rules of the company. They refer to the objectives of the company and hold it intends to interact with the public.
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