Define: Ordinary Assembly

Ordinary Assembly
Ordinary Assembly
Quick Summary of Ordinary Assembly

An ordinary assembly is a gathering of individuals for a specific purpose. Taking ordinary care involves exercising reasonable precautions to prevent harm. An ordinary committee is a group of individuals appointed to carry out a particular task. The ordinary course of business refers to the customary way in which activities are conducted in a business. Ordinary diligence entails putting in the necessary effort to complete a task. Ordinary gain refers to the profit derived from regular business activities. Ordinary goods are products that are commonly bought and sold. Ordinary high tide represents the average level of the tide. Ordinary income is the money earned from regular work or investments. Ordinary insurance pertains to life insurance that provides coverage for a specific period of time. Ordinary law refers to laws that are established by the government. Ordinary life insurance is a type of life insurance that offers coverage for the entire lifespan of the insured individual. Ordinary loss refers to the financial loss incurred in regular business activities. An ordinary main motion is a proposal put forth during a meeting. An ordinary majority denotes the number of votes required to pass a proposal. Ordinary meaning refers to the usual or natural interpretation of a word. The ordinary-meaning rule is a legal principle that asserts that words in a legal document should be interpreted according to their ordinary meaning.

Full Definition Of Ordinary Assembly

A regular assembly is a gathering of people for a specific purpose, like a meeting or conference. It occurs on a routine basis. Ordinary care is the level of care that a reasonable person would take in a given situation. It is the standard of care expected of an individual to avoid liability for negligence. For instance, if a driver fails to stop at a red light and causes an accident, they may be found negligent for not exercising ordinary care. A regular committee is a group of people appointed or elected to perform a specific task or function. It is established to address ongoing issues or concerns. The ordinary course of business refers to the normal way a business operates, including regular activities and transactions necessary for the business to function. For example, a restaurant’s ordinary course of business would include preparing and serving food, taking orders, and processing payments. Ordinary diligence is the level of care and attention a reasonable person would take in a given situation. It is the standard of care expected of an individual to avoid liability for negligence. For example, if a landlord fails to repair a dangerous condition in a rental property, they may be found negligent for not exercising ordinary diligence. Ordinary gain refers to the profit earned from the regular or routine activities of a business or investment. It is the income generated from the normal course of operations. For example, a company’s ordinary gain would include the revenue generated from the sale of its products or services. Ordinary goods refer to the products or items commonly bought and sold in the marketplace. They are the everyday items used by consumers and businesses. For example, ordinary goods would include food, clothing, and household items. Ordinary high tide refers to the average level of the highest tides that occur over a period of time. It is used to determine the boundary between public and private property along the shoreline. For example, if a property owner’s land extends to the ordinary high tide line, they may have certain rights and responsibilities related to the use and maintenance of the shoreline. Ordinary income refers to the income earned from the regular or routine activities of a business or individual. It is the income generated from the normal course of operations. For example, an individual’s ordinary income would include their salary or wages from their job. Ordinary insurance refers to the type of insurance that provides coverage for common risks and events. It is the standard type of insurance available to individuals and businesses. For example, ordinary insurance would include auto insurance, homeowners insurance, and liability insurance. Ordinary law refers to the laws enacted by a legislative body, such as a state or federal government. It is the standard type of law used to regulate society and protect individual rights. For example, ordinary law would include criminal laws, civil laws, and administrative laws. Ordinary life insurance refers to the type of life insurance that provides coverage for the entire life of the insured individual. It is a standard type of life insurance available to individuals. For example, ordinary life insurance would provide a death benefit to the beneficiary upon the death of the insured individual. Ordinary loss refers to the loss incurred from the regular or routine activities of a business or investment. It is the loss generated from the normal course of operations. For example, a company’s ordinary loss would include the expenses incurred in the production and sale of its products or services. An ordinary main motion is a proposal made during a meeting or assembly. It is a regular or routine motion used to introduce new business or ideas. For example, an ordinary main motion would be used to propose a new policy or procedure for a company or organisation. An ordinary majority refers to the number of votes required to pass a motion or resolution during a meeting or assembly. It is the standard number of votes needed to approve a proposal. For example, an ordinary majority may require a simple majority of more than 50% of the votes cast. Ordinary meaning refers to the common or natural interpretation of a word or phrase. It is the meaning generally understood by the average person. For example, the ordinary meaning of the word “dog” would be a domesticated mammal commonly kept as a pet. The ordinary-meaning rule is a legal principle used to interpret the meaning of words or phrases in a statute or other legal instrument. It states that when a word is not defined in a legal document, it should be given its ordinary or natural meaning. For example, if a statute uses the word “vehicle” without defining it, the court would apply the ordinary-meaning rule and interpret it to include cars, trucks, and other modes of transportation.

Ordinary Assembly FAQ'S

An Ordinary Assembly refers to a meeting of shareholders or members of a company or organisation that is held annually to discuss and make decisions on important matters related to the company’s operations.

Typically, shareholders or members of the company or organisation are allowed to attend an Ordinary Assembly. However, the specific eligibility criteria may vary depending on the company’s bylaws or governing documents.

The main purpose of an Ordinary Assembly is to provide a platform for shareholders or members to receive updates on the company’s performance, elect or remove directors, approve financial statements, and make decisions on other important matters that require their input.

An Ordinary Assembly is usually called by the company’s board of directors or management. They are responsible for sending out notices to shareholders or members, specifying the date, time, and location of the assembly, along with the agenda and any supporting documents.

Yes, shareholders or members generally have the right to propose agenda items for an Ordinary Assembly. However, there may be specific procedures or deadlines outlined in the company’s bylaws or governing documents that need to be followed for such proposals to be considered.

If a shareholder or member is unable to attend an Ordinary Assembly, they may have the option to appoint a proxy to represent them and vote on their behalf. The specific rules regarding proxy voting may vary depending on the company’s bylaws or governing documents.

Decisions during an Ordinary Assembly are typically made through voting. Each shareholder or member usually has one vote, unless otherwise specified in the company’s bylaws or governing documents. The decisions are usually determined by a majority or supermajority vote, depending on the nature of the matter being discussed.

Decisions made during an Ordinary Assembly can be challenged if there are valid grounds to do so, such as a violation of the company’s bylaws or governing documents, or if the decision was made through fraudulent or coercive means. In such cases, legal remedies may be sought to challenge the decision.

Yes, the decisions made during an Ordinary Assembly are generally legally binding on the company and its shareholders or members. They form part of the company’s official records and must be implemented by the company’s management or board of directors, unless there are legal grounds to challenge them.

In certain circumstances, decisions made during an Ordinary Assembly may be subject to review or reconsideration. This can occur if there is new information or evidence that was not available during the assembly, or if there are legal grounds to challenge the decision. However, the specific procedures and requirements for overturning a decision may vary depending on the applicable laws and regulations.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 17th April 2024.

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