Define: Charter

Charter
Charter
Quick Summary of Charter

In the context of the law, a charter is a formal document or instrument that grants certain rights, privileges, powers, or authority to an individual, organisation, or entity. Charters can take various forms, including constitutions, statutes, ordinances, corporate charters, and royal charters, depending on the jurisdiction and the nature of the entity receiving the charter. Charters typically outline the purposes, objectives, rules, and responsibilities of the recipient, as well as any limitations or conditions attached to the grant of rights or privileges. For example, a municipal charter may establish the structure of local government, define the powers and duties of elected officials, and delineate the rights and obligations of residents within the jurisdiction. Similarly, a corporate charter sets forth the legal framework for the formation, operation, and governance of a corporation, including its name, purpose, shareholders, directors, and capital structure. Charters serve as foundational documents that define the legal status and parameters of the entity or organisation to which they are granted, providing a framework for its operations and activities within the law.

What is the dictionary definition of Charter?
Dictionary Definition of Charter
n. the name for articles of incorporation in some states, as in a corporate charter.
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This glossary post was last updated: 28th March, 2024.

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