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<h1>Company's Memorandum and Articles Create Binding Contractual Obligations for Members, Including Financial Debts Under Company Law.</h1> The memorandum and articles of a company, once registered, legally bind the company and its members as if they personally signed them, agreeing to adhere to all provisions. This creates a contractual obligation between the company and its members. Additionally, any financial obligations specified in the memorandum or articles that a member owes to the company are considered a debt owed by that member to the company.