acceptance of charter

An act essential to the existence of a corporation when the mode of its creation is by special grant to a designated person or persons. This act may be express, its where it appears oil the records of the corporation, or it may be presumed or inferred, as where corporate powers have been assumed or exercised after the granting of the charter. 18 Am J2d Corp § 27.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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  • surrender of charter — The dissolution or termination of the existence of a corporation by a formal act on the part of the corporation in yielding its charter to the sovereignty under which the corporation was created and the acceptance of the same by the government.… …   Ballentine's law dictionary

  • toleration — index acceptance, approval, charter (sanction), clemency, consent, disinterest (lack of prejudice) …   Law dictionary

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