Practice Quiz

CLEP Business Law

Category - Miscellaneous

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What is the required number of shares that must be represented in person or by proxy to hold a shareholders’ meeting?
  1. A quorum of shares.
  2. A majority of shares.
  3. A minority of shares.
  4. Two-thirds of shares.
  5. One-half of shares.
Explanation
Answer: A. A quorum of shares is the required number of shares that must be represented in person or by proxy to hold a shareholders’ meeting. The shareholder documents will determine what constitutes a quorum. If no quorum exists, then the meeting may be adjourned.
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