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" ... in the absence of fraud in the transaction the judgment of the directors as to the value of the property purchased shall be conclusive... "
The Oklahoma Law Journal - Page 136
1907
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Reports of Cases Decided in the Court of Chancery of the State of ..., Volume 69

New Jersey. Court of Chancery - Law reports, digests, etc - 1907
...present case, in that it lias added the words, "and in the absence of actual fraud in the transaction, the judgment of the directors as to the value of the property purchased shall be conclusive.'' That, indeed, was a suit by a stockholder in a corporation, already organized...
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Reports of Cases Decided in the Court of Chancery of the State of ..., Volume 62

New Jersey. Court of Chancery - Law reports, digests, etc - 1902
...American Smelting, &c., Co. 3. After stock has been issued as full-paid stock for property purchased, the judgment of the directors as to the value of the property becomes conclusive, in the absence of actual fraud in the transaction, and such stock is not liable...
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 204

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - Law reports, digests, etc - 1919
...the liability imposed by section twenty-nine; and in the absence of actual fraud in the transaction, the judgment of the directors as to the value of the property shall be conclusive. And in addition to the powers hereinbefore enumerated, every corporation organized...
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Annual Report of the Board of Railroad Commissioners of the State ..., Volume 3

New York (State). Board of Railroad Commissioners - Railroads - 1907
...further payment under any of the provisions of this act; and iu the absence of fraud in the transaction the judgment of the directors as to the value of the property purchased shall be conclusive; and in all statements and reports of the corporation, by law required to be published...
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The Federal Reporter, Volume 119

Law reports, digests, etc - 1903
...payment under any of the provisions of this act; and in the absence of actual fraud in the transaction, the Judgment of the directors as to the value of the property purchased shall be conclusive; and in all statements and reports of the corporation to be published or filed...
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The Federal Reporter: With Key-number Annotations ..., Volume 289

Law reports, digests, etc - 1923
...law, vests in the trustee in bankruptcy. [3] Coming to consider the effect of the declaration that the judgment of the directors as to the value of the property shall be conclusive in the absence of actual fraud, we are unable to agree with the referee's view....
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The Atlantic Reporter, Volume 69

Law reports, digests, etc - 1908
...the value thereof in payment therefor ; and that, in the absence of actual fraud in the transaction, the judgment of the directors as to the value of the property purchased shall be conclusive. Section 50 (page 21)4) authorizes jesis, etc., companies to issue their capital...
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Atlantic Reporter, Volume 84

Law reports, digests, etc - 1913
...payment under any of the provisions of this act; and in the absence of actual fraud In the transaction the judgment of the directors as to the value of the property purchased shall be conclusive." These sections have been so often construed by our highest court that their meaning...
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The Atlantic Reporter, Volume 75

Law reports, digests, etc - 1910
...subscriptions consists, and that It has an actual value equal to the amount for which It Is so received. The Judgment of the directors as to the value of the property accepted as payment of stock shall be final ; but the directors concurring In the Judgment of such...
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Harvard Law Review, Volume 22

Electronic journals - 1909
...full paid and non-assessable, and declaring that " in the absence of actual fraud in the transaction, the judgment of the directors as to the value of the property purchased shall be conclusive" Perhaps no judicial invention has given rise to as much discussion, or has more...
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