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.
One of the boardâs foremost responsibilities is to provide adequate resources for the Foundation to fulfill its mission. The board should work in partnership with the chief executive and investment staff and consultants, if any, to invest the Foundationâs corpus wisely in keeping with Board-approved investment policies.