Hi, I'm Peter and welcome to TransLegal's lesson of the week.
Today we're going to be talking about the term quorum.
Quorum is a noun which signifies the number of a body, of any body, it could be a Board of Directors or a legislative body that is required to be present in order to conduct business and for the meeting to officially begin and make officially recognised decisions.
Usually a quorum constitutes a majority of the given body.
Some examples of quorum in use include:
"The meeting could not be held because we did not have a quorum." or
"There were not enough members present to constitute a quorum".
There are a number of other usages of quorum that you can see in the quorum entry in TransLegal's dictionary. One term though that you should make note of is quorate which is the adjective form of quorum. So quorate is an adjective that describes a meeting that has enough members present to conduct business, for example:
"The meeting will be quorate if two-thirds of the shareholders are present."
The opposite of quorate would be inquorate.
That's it for today's lesson. If you have any questions or comments please leave them in the comments box below and myself or one of my colleagues will get back to you as soon as we can. Thank you.