Explain the meaning of charter and joint-stock company by using each term in a sentence.

The joint stock company issues shares similar to a public company that trades on a registered exchange. Joint stock holders may buy or sell these shares freely in the market. But unlike ordinary shares or preferred shares, the shares of a joint stock company carry explicit obligations. stock Holders have a direct vote in company management decisions as well as a joint and several liability for the company's outstanding D ebts.