The pioneer in this move was the state of Pennsylvania, which chartered a company in 1792 to construct a turnpike, a road for the use of which a toll, or payment, is collected, from Philadelphia to Lancaster.
Square Does "charter" mean "hire" here? No. 'Authorize/found'.
— Mister Micawber
Square Does "charter" mean "hire" here?
No.
'Authorize/found'.
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified.
It is implicit that the granter retains superiority (or sovereignty), and that the recipient admits a limited (or inferior) status within the relationship, and it is within that sense that charters were historically granted, and that sense is retained in modern usage of the term.
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A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the recipient admits a limited (or inferior) statu