charter

First, a charter can be defined broadly as the highest law of an entity. More specifically:

• In corporate law, the articles of incorporation.
• 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.

  Second, in popular usage, a charter is the lease of a bus, airplane, ship, or other usually large or expensive vehicle for transportation.

  • A person who signs such a lease is said to charter the vehicle.
  • The vehicle used under this agreement is said to be chartered.

  [Last updated in July of 2022 by the Wex Definitions Team]

  • wex
    • CIVICS
    • local governmental law
    • government
    • COMMERCE
    • commercial activities
    • banking
    • transportation
    • admiralty/maritime
    • aviation
    • railroads
    • business law
    • business organizations
    • commercial law
    • corporations
    • business sectors
    • commercial transactions
    • legal education and practice
    • wex definitions