Quorum

Definition of Quorum

Meaning of quorum, related to United States investment and financial law, in the American Legal Dictionary. See also related words and terms of quorum below.

Resources

See Also

Further Reading

• Information about quorum in: John Downes and Jordan Elliot Goodman, “Dictionary of finance and investment terms” (Hauppauge, New York, Barron's, 2014)
• Information about quorum in: Jerry Martin Rosenberg, “Dictionary of investing” (New York, Wiley)
• Information about quorum in: Campbell R. Harvey's Hypertextual Finance Glossary

Quorum

In the Past

Used substantively, quorum signifies the number of people belonging to a legislative assembly, a corporation, society or other body, needd to transact business; there is a difference between an act done by a definite number of people and one performed by an indefinite number: in the first case a majority is needd to constitute a quorum, unless the law expressly directs that another number may make one; in the latter case any number who may be present may act, the majority of those present having, as in other cases, the right to act. 7 Cowen, 402; 9 B. & C. 648; Ang. on Corp. 28.1.

Developments

Sometimes the law needs a greater number than a bare majority to form a quorum, in such case no quorum is present until such a number convene.

Details

When an authority is confided to several people for a private purpose, all must join in the act, unless or authorized. 6 John. R. 38. Vide Authority, Majority; Plurality. [1]

Resources

Notes and References

1. Partialy, this information about quorum is based on the Bouvier's Law Dictionary, 1848 edition. There is a list of terms of the Bouvier's Law Dictionary, including quorum.

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