If there are 5 people on the board and 3 are present, is unanimous consent required for action?

In a situation where there are 5 people on the board and only 3 are present, a majority of those present is sufficient for action to be taken. Since there are 3 board members present, this means that at least 2 members (which is a majority) must agree to the action for it to be approved.

Unanimous consent would require that all individuals present agree, which is not necessary in this scenario. The rules governing board actions often state that a majority of the members present is enough for decisions, unless the organization's governing documents specifically require a higher threshold such as unanimous consent or a two-thirds vote. Since the question does not mention any such exceptions, the correct understanding is that a simple majority of the present directors is adequate for action to be taken.