1. Memorandum Of Association
According to section 2(56) of the Companies Act 2013 Memorandum means “Memorandum of Association of a Company as originally framed or altered from time to time in pursuance of any previous Companies Law or of this Act.”

2. Purpose of Memorandum
The lender will be able to know where his money will be used.
It also defines the contractual limit of the company

3. Contents of Memorandum
Name Clause
Registered office clause
Objects clause
Liability clause
Association or subscription clause

4. Alteration of Memorandum
Change of name
Change of registered office
Change of object clause
Change of liability clause
Change of capital clause

5. Doctrine of Ultra Vires
Protects shareholders
It safeguards the interests of the shareholders
Rationale
Ashbury Railway Carriage and Iron Co. Ltd. V. Riche (1875)

6. Effects of Ultra vire acts
Void ab intio
Injunction
Breach of warranty of authority
Personal liability of directors
Ultra vire contracts
Ultra vire acquired property
Ultra vire borrowings
Ultra vire torts

7. Exceptions to the Doctrine of Ultra vires