A What Is a Quorum of the Board of Directors

question 72

Essay

a. What is a quorum of the board of directors for purpose of conducting corporate business? What does the Revised Act say with regard to a quorum? What is a supermajority requirement?
b. The directors of Bigkey, Inc. can't decide whether to declare a dividend, so the board appoints a committee consisting of the president of the corporation, the vice president of the corporation, and the treasurer to decide whether to pay a dividend. If the committee wants to declare a dividend, the directors say the officers can pay it immediately before the next board meeting. Is this a permissible delegation of corporate authority? Explain.

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Definitions:

Ingredients

The components or elements that are combined to create a product, especially in cooking or manufacturing.

Fruit Of The Poisonous Tree

A legal metaphor in the United States that describes evidence that has been obtained illegally, which cannot be introduced in court.

Excluded Evidence

Information or material that is not permitted to be presented to the jury or decision-makers in a legal proceeding due to rules of evidence or prior legal decisions.

Criminal Activities

Illegal actions that are punishable by law, such as theft, fraud, or assault.