Definition of misnomer. 1  1 : the misnaming of a person in a legal instrument. 2  2a : a use of a wrong or inappropriate name Nowadays it is a misnomer to call a farmer a peasant.b : a wrong name or inappropriate designation The name âGreenlandâ is a misnomer, since much of the island is covered by a massive ice sheet.
An advisory board would have to take a much more active role in the management of a business than should ever be contemplated before there could be any realistic risk that non-statutory liability could be attached to advisory board members as such.
Non-Profit Boards. The Treasurer's role is considered the most important function on the Board, after that of the Chair. The success of an organization depends on whether or not the organization is able to develop and adhere to a budget. Financial accountability is also of the utmost importance to a non-profit organization.