President's Cup is the QMJHL's Championship Trophy, not the NHL's annual trophy given to the team with the best record.
Memorial Cup is an annual trophy given to the champion of the Canadian Hockey League. The CHL consists of the OHL (Ontario Hockey League), QMJHL (Quebec Major Junior Hockey League) and the WHL (Western Hockey League) The champions of each league and the host team play in the Memorial Cup Tournament. The Memorial Cup is the top prize for Junior men's ice hockey.
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