CHARTER REVOCATION Meaning and
Definition
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Charter revocation is a legal term referring to the act of canceling or withdrawing a charter or license granted to a corporation, organization, or individual by a governing authority. A charter is a formal document, typically granted by a government or other regulatory body, that confers certain rights, privileges, and legal status upon the recipient. It serves as a contract, granting specific powers and responsibilities to the entity or person to which it is issued.
Charter revocation occurs when the governmental authority that granted the charter decides to revoke or rescind it due to noncompliance with the terms and conditions outlined in the charter, violation of legal regulations, or other reasons deemed sufficient.
The revocation of a charter leads to the loss of legal recognition and the withdrawal of all rights, privileges, and powers associated with it. It effectively terminates the entity's legal existence and ability to operate and conduct business under the authority granted by the charter. Consequently, any contractual agreements, decisions, or actions made by the entity after charter revocation are typically rendered void.
Charter revocation can be an administrative or judicial process, depending on the governing authority and the specific circumstances. Administrative revocation usually involves a regulatory agency or government board taking action against an entity that has violated regulations or failed to fulfill its obligations. Judicial revocation, on the other hand, occurs through a legal proceeding initiated by an interested party or the government seeking the dissolution of the entity due to misconduct or noncompliance.
Common Misspellings for CHARTER REVOCATION
- xharter revocation
- vharter revocation
- fharter revocation
- dharter revocation
- cgarter revocation
- cbarter revocation
- cnarter revocation
- cjarter revocation
- cuarter revocation
- cyarter revocation
- chzrter revocation
- chsrter revocation
- chwrter revocation
- chqrter revocation
- chaeter revocation
- chadter revocation
- chafter revocation
- chatter revocation
- cha5ter revocation
- cha4ter revocation
Etymology of CHARTER REVOCATION
The word "charter" can be traced back to the Latin word "charta", which originally meant "paper" or "document". Over time, it evolved to refer specifically to a written grant or privilege issued by a governing authority. The term "charter" eventually came to represent a document that establishes and outlines the rights and privileges of an organization, such as a corporation, educational institute, or government agency.
On the other hand, "revocation" comes from the Latin word "revocare", which means "to call back" or "to cancel". The term refers to the act of invalidating or annulling something that has previously been granted or allowed. Thus, "charter revocation" refers to the process of cancelling or taking back a charter.
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