Ms. Rosalinda G. Antiporda
SEC Opinion • Securities and Exchange Commission • Opinions • Nov 15, 1991
Full text
November 15, 1991 Ms. Rosalinda G. Antiporda Catholic Family Rosary Cenacle Foundation, Inc. Club, Filinvest Homes I, Capitol District, Quezon City M a d a m : This refers to your letter dated November 4, 1991 requesting opinion as to what constitutes majority of the Board consisting of seven (7) members in order to form a quorum for the transaction of business in meetings of the Board. The word "majority" means: "the greater number, more than half of the whole number or given number or group." (Words and Phrases Vol. 26) "The greater of two numbers that are regarded as parts of a whole or total; the number greater than half; more than half of any total." (New International Webster Dictionary) "The greater number. The number greater than half of any total." (Black's Law Dictionary) "The number greater than half or more than half of any total." (Philippine Law Dictionary, by F.B. Moreno) In the instant case, half of seven (7) is 3 1/2 and the greater whole number which is more than 3 1/2 is four (4). Applying the foregoing accepted definition of the term "majority", four (4) is therefore considered majority of seven (7). llcd Please be advised accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman
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