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TeachMeFinance.com - explain Memorandum of association historic definition... 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 Joint- Stock 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." About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.