(A) Literally, to be remembered. It is an informal instrument recording some fact or agreement, so called from its beginning, when it was made in Latin. It is sometimes commenced with this word, though written in English; as Memorandum, that it is agreed, or it is headed with the words, Be it remembered that, The term memorandum is also applied to the clause of an instrument. (B) insurance. A clause in a policy limiting the liability of the insurer. Its usual form is as follows, namely, N. B. Corn, fish, salt, fruit, flour and seed, are warranted free from average, unless general, or the ship be stranded: sugar, tobacco, hemp, flax, hides and skins, are warranted free from average, under five percent; and all other goods, also the ship and freight, are warranted free from average, under three percent unless general, or the ship be stranded. (C) Contract. A written record or note that may prove the existence of an oral contract or terms of a contract and memorializes a conversation. For example, a letter or informal notice that contains terms that are agreed upon between parties. (D) Legal Memo. Similar to an interoffice memorandum. This is usually a review summary prepared by an associate in a law firm or law clerk for a judge which outlines the case, lists relevant statutes and case law and provides an analysis of the case, legal arguments in which to form a conclusino about the case and, potentially, how to proceed.
Law Dictionary – Alternative Legal Definition
Latin: To be remembered ; be it remembered. A formal word with which the body of a record in the court of king’s bench anciently commenced. Townsh. PL 486; 2 Tidd, Pr. 719. The whole clause is now, in practice, termed, from this initial word, the “memorandum,” and its use is supposed to have originated from the circumstance that proceedings “by bill” (in which alone it has been employed) were formerly considered as the by business of the court. Gilb. Com. PI. 47, 48. Also an informal note or instrument embodying something that the parties desire to fix in memory by the aid of written evidence, or that is to serve as the basis of a future formal contract or deed. This word is used in the statute of frauds as the designation of the written agreement, or note or evidence thereof, which must exist in order to bind the parties in the cases provided. The memorandum must be such as to disclose the parties, the nature and substance of the contract, the consideration and promise, and be signed by the party to be bound or his authorized agent See 2 Kent, Gomm. 510. Memorandum articles. In the law of marine insurance, this phrase designates the articles of merchandise Which are usually mentioned in the memorandum clause, (q. v.,) and for which the underwriter’s liability is thereby limited. See Wain v. Thompson, 9 Serg. & fi. (Pa.) 120, 11 Am. Dec. 675.Memorandum check. See Check.Memorandum clause. In a policy of marine insurance the memorandum clause is a clause inserted to prevent the underwriters from being liable for injury to goods of a peculiarly perishable nature, and for minor damages. It begins as follows: “N. B. Corn, fish, salt, fruit, flour, and seed are warranted free from average, unless general, or the ship be stranded,”meaning that the underwriters are not to be liable for damage to these articles caused by sea water or the like. Maude & P. Shipp. 371; Sweet.Memorandum in error. A document alleging error m fact, accompanied by an affidavit of such matter of fact.Memorandum of alteration. Formerly, in England, where a patent was granted for two inventions, one of which was not new or not useful, the whole patent was bad, and the same rule applied when a material part of a patent for a single invention had either of those defects. To remedy this the statute empowers a patentee (with the fiat of the attorney general) to enter a disclaimer (q. v.) or a memorandum of an alteration in the title or specification of the patent, not being of such a nature as to extend the exclusive right granted by the patent, and thereupon the memorandum is deemed to be part of the letters patent or the specification. Sweet.Memorandum of association. A document to be subscribed by seven or more persons associated for a lawful purpose, by subscribing which, and otherwise complying with the requisitions of the companies’ acts in respect of registration, they may form themselves into an incorporated company, with or without limited liability. 3 Steph. Comm. 20.Memorandum sale. See Sale.