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Memorandum of Association — SPCC STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceSPCCMemorandum of Association2 Marks
Question
What guarantee does shareholders get through Memorandum of Association?
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Answer

Through Memorandum of Association, Shareholders get assurance that the money invested by them in company will be used only for the purpose mentioned in memorandum. If company does not abide by it, shareholder can take company to the court.

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