write a note on quorum of the meeting
Answers
Answer:
Quorum;
A quorum refers to the minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter. This clause or general agreement ensures there is sufficient representation present at meetings before any changes can be made by the board.
Explanation:
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The term quorum came into use in the commission formerly issued to justices of the peace in England. In a day when legal scholarship on the local bench was the exception rather than the rule, it was necessary in commissioning the members of the court to add one or two or three jurists of sufficient learning and experience to discharge the technical duties of the tribunal. These became known as the quorum, without whom the court did not sit.
"The presence of a quorum is required for the transaction of all business. In the absence of a quorum, pending business is suspended and no business, however highly privileged, may be transacted even by unanimous consent. "
Rules of Quorum;
Quorum of an assembly is such a number as must be present in order that business can be legally transacted. The quorum refers to the number present, not to the number voting. The quorum of a mass meeting is the number present at the time, as they constitute the membership at that time.