Instructions: Identify the Following Terms

question 40

Short Answer

Instructions: Identify the following terms:
Stephen Decatur

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Definitions:

Cumulative Voting

A voting system commonly used in corporate elections that allows shareholders to concentrate their votes on a single candidate, as opposed to distributing them among multiple candidates.

Straight Voting

A voting system where shareholders must vote for directors individually, with each shareholder's vote proportional to their shareholding.

MBCA

The Model Business Corporation Act (MBCA) provides a template for states in the United States to use in drafting their corporate statutes, aiming to harmonize the law of corporations across states.

Quorum of Shareholders

The minimum number of shareholders required to be present at a meeting in order to legally conduct business.