Charter
1. Broadly, the highest law of an entity. More specifically:
(a) In corporate law, the articles of incorporation.
(b) In public law, the instrument by which a municipality is incorporated (e.g., city charter). This type of charter includes the highest laws of the municipality and its organizational structure.
(c) In legislative law, a government act that establishes a publicly funded business or undertaking.
2. In popular usage, the lease of a bus, airplane, ship, or other usually large or expensive vehicle for transporation. A person who signs such a lease is said to charter the vehicle. The vehicle used under this agreement is said to be chartered.
Definition from Nolo’s Plain-English Law Dictionary
1) A document that establishes an organization, such as a governmental entity (for example, a city charter) or a company (for example, a corporation's Articles of Incorporation). 2) To hire or rent for temporary use, such as chartering a boat.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:12 pm
