What document is known as the 'Memorandum of Association'?

The 'Memorandum of Association' is a crucial document that outlines a company's objectives and fundamental structure. It serves as the foundation of a company’s existence and is one of the key documents required to incorporate a company.

This document specifies various important details such as the company's name, the location of its registered office, the objectives for which the company is established, and the liabilities of its members. The objectives section clarifies what activities the company intends to engage in, providing guidance for its operations and ensuring that all business activities fall within the stated purposes.

Understanding this document is essential because it plays a critical role in defining the scope of a company’s powers and activities. Any act performed outside the objectives specified in the Memorandum can be deemed ultra vires, meaning beyond the powers of the company, thus helping to protect shareholders and creditors.

The other options do not accurately represent the nature of the Memorandum of Association. For instance, a contract invalid from the beginning refers to agreements that are void, which is unrelated to the memorandum itself. Similarly, consent given voluntarily without coercion pertains to contract formation but does not correspond to the structural and objective defining role of the memorandum. Finally, while a legal entity created by a Special Act might refer to specific