Memorandum

A memorandum (abbrev.: memo) was from the Latin verbal phrase memorandum est, the gerundive form of the verb memoro, "to mention, call to mind, recount, relate", which means "It must be remembered (that)...". It is therefore a note, document or other communication that helps the memory by recording events or observations on a topic, such as may be used in a business office. The plural form of the Latin noun memorandum so derived is properly memoranda, but if the word is deemed to have become a word of the English language, the plural memorandums, abbreviated to memos, may be used. (See also Agenda, Corrigenda, Addenda)

A memorandum can have only a certain number of formats; it may have a format specific to an office or institution. In law specifically, a memorandum is a record of the terms of a transaction or contract, such as a policy memo, memorandum of understanding, memorandum of agreement, or memorandum of association. Alternative formats include memos, briefing notes, reports, letters or binders. They could be one page long or many. They may be considered as grey literature. If the user is a cabinet minister or a senior executive, the format might be rigidly defined and limited to one or two pages. If the user is a colleague, the format is usually much more flexible. At its most basic level, a memorandum can be a handwritten note to one's supervisor. In business, a memo is typically used by firms for internal communication, as opposed to letters which are typically for external communication. Hence, we can consider memoranda as an upward communication process through which any complaint, issues, opinion, views and suggestion are put forward to the authorized level.

Companies law

Companies law (or the law of business associations) is the field of law concerning companies and other business organizations. This includes corporations, partnerships and other associations which usually carry on some form of economic or charitable activity. The most prominent kind of company, usually referred to as a "corporation", is a "juristic person", i.e. it has separate legal personality, and those who invest money into the business have limited liability for any losses the company makes, governed by corporate law. The largest companies are usually publicly listed on stock exchanges around the world. Even single individuals, also known as sole traders may incorporate themselves and limit their liability in order to carry on a business. All different forms of companies depend on the particular law of the particular country in which they reside.

The law of business organizations originally derived from the common law of England, but has evolved significantly in the 20th century. In common law countries today, the most commonly addressed forms are:

Memorandum of association

The memorandum of association of company, often simply called the memorandum (and then often capitalised as an abbreviation for the official name, which is a proper noun and usually includes other words). Memorandum of Association of a Company is one of the most important documents and must be drafted with care. It has to be filed with the Registrar of Companies during the process of incorporation of a Company. It contains the fundamental conditions upon which the company is allowed to operate. It is the document that governs the relationship between the company and the outside. It is one of the documents required to incorporate a company in the United Kingdom, Ireland, India, Bangladesh, Pakistan and Sri Lanka,Tanzania and is also used in many of the common law jurisdictions of the Commonwealth.

Requirements

While it is still important to file a memorandum of association to incorporate a new company, it forms part of the company’s constitution and it contains limited information compared to the memorandum that was required prior to 1 October 2010. The Companies (Registration) Regulation 2008 in fact included pro-forma Memoranda.

Memorandum of understanding

A memorandum of understanding (MoU) describes a bilateral or multilateral agreement between two or more parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentlemen's agreement.

Whether or not a document constitutes a binding contract depends only on the presence or absence of well-defined legal elements in the text proper of the document (the so-called "four corners"). The required elements are: offer and acceptance, consideration, and the intention to be legally bound (animus contrahendi). In the U.S., the specifics can differ slightly depending on whether the contract is for goods (falls under the Uniform Commercial Code [UCC]) or services (falls under the common law of the state).

U.S. private law

In private U.S. law, MoU is a common synonym for a letter of intent. One example is the MoU between Bush and Kerry for the 2004 debates iii.

Og Mandino

Augustine "Og" Mandino II (December 12, 1923 – September 3, 1996) was an American author. He wrote the bestselling book The Greatest Salesman in the World. His books have sold over 50 million copies and have been translated into over twenty-five different languages. He was the president of Success Unlimited magazine until 1976 and is an inductee of the National Speakers Association's Hall of Fame.

Biography

According to the 1930 U.S. Census, Og Mandino was born in Natick, Massachusetts on December 12, 1923 to parents Silvio and Margaret Mandino, and was named Augustine after his paternal Italian grandfather. Mandino was once the editor of his high school paper and planned to attend the University of Missouri's journalism school. In the summer of 1940, before he entered college, his mother died from a massive heart attack. He decided to work in a paper factory until 1942. Afterward, he joined the United States Army Air Corps where he became a military officer and a bombardier. He flew for thirty bombing missions over Germany on-board a B-24 Liberator during World War II. During this time, he flew with fellow pilot and movie star, James Stewart.