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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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The Law of Combinations Embracing Monopolies, Trusts, and ..., Volume 2

Arthur Jerome Eddy - Antitrust law - 1901 - 1540 pages
...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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Laws of the State of New York, Volume 2

New York (State) - Session laws - 1901
...further payment under any of the provisions of this act; and in 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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Columbia Law Review, Volume 1

Electronic journals - 1901
...statute did not permit the issue of stock below par, and although it declared that in the absence of fraud the judgment of the directors as to the value of the property should be final, this latter applied only to a case where the stock had already been issued. When the...
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Laws of Maine Concerning Business Corporations (annotated) with the Liberal ...

Herbert Milton Heath - Corporation law - 1902 - 64 pages
...liable to any further call or payment thereon; and in the absence of actual fraud in the transaction, the judgment of the directors as to the value of the property purchased, or services rendered, shall be conclusive. NOTE. When stock is issued for property purchased or services...
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A Treatise on the Law of Private Corporations

Henry Osborn Taylor - Corporation law - 1902 - 969 pages
...equal to their par value or not. Now by statute in New York "in the absence of fraud in the transaction the judgment of the directors as to the value of the property purchased shall be conclusive." Section 42 of chapter 354 of the laws of 1901, amending chapter 688 of the laws...
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Congressional Serial Set

United States - 1902
...further payment under 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. In all statements and reports of the corporation to be published or filed, these...
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Business Corporations Under the Laws of Maine ...

Corporation Trust Company - Corporation law - 1903 - 16 pages
...shall be full paid stock," and it is provided that " In the absence of actual fraud in the transaction the judgment of the directors as to the value of the property purchased or services rendered shall be conclusive." XI. PREFERRED STOCK. The utmost liberality is permitted...
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Laws of the Territory of New Mexico: Passed by the Legislative Assembly ...

New Mexico - Law - 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 General Corporation Act of New Jersey

New Jersey - Corporation law - 1903 - 251 pages
...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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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1903
...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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