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The function of a corporation charter is to establish the basic elements for an incorporated business enterprise. For example, a corporation charter sets forth the activities the corporation intends to engage in once established.
Charter Agreement. The charter agreement is a legal contract made between two parties, one of whom is known as the âCharter Companyâ, which is a travel agency or a shipping company, while the other is known as the âClientâ. This charter agreement facilitates with the clientâs request to charter a ship, cruiser, or sea vessel for particular purpose.