Is a document that governs the relationship between the company and the outside. It is basically a statement that the subscribers wish to form a company, have agreed to become members, and in the case of a company which is to have a share capital, to take at least one share each.

A written authorisation to represent or act on another’s behalf (the principal) in private affairs, business or some other legal matter, sometimes against the wishes of the principal. It is generally terminated when the principal dies or becomes incompetent, but the principal can revoke it at any time. See also: Online POA and Other Notary Public Services in the UAE

A legal status imposed by a court order that usually refers to an individual that cannot repay the debts that it owes to creditors.

A period immediately after the deadline for the performance of an obligation during which a late fee or penalty, or other action would have been taken as a result of failing to meet the deadline, is waived provided that the obligation is satisfied during the grace period. Grace periods can range from a couple of minutes to a number of days or longer, depending on the context, and can apply in various situations, such as complying with a legal obligation by a specified deadline.