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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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Documents of the Senate of the State of New York, Volume 2

New York (State). Legislature. Senate - Government publications - 1906
...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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The Distribution of Ownership

Joseph Harding Underwood - Possession (Law) - 1907 - 219 pages
...some states. Thus New Jersey and Delaware say 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." 3 The secretary of state of Maine sent out circulars stating that corporators...
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Arnold's Guide for Business Corporations in the State of New York ...

Joseph Alfred Arnold - Corporation law - 1907 - 212 pages
...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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A Treatise on the Law of Intercorporate Relations

Walter Chadwick Noyes - Antitrust law - 1909 - 924 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." The provision of the English Companies Act of 1867, 30 and 31 Viet. ch. 131,...
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Select Cases and Other Authorities on the Law of Private Corporations

Edward Henry Warren - Corporation law - 1909 - 703 pages
...present case, in that it has 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 iu a corporation, already organized...
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Maine Corporation Law: The Statutes of Maine Relating to Business ...

Maine - Corporation law - 1909 - 274 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. — RS, c. 47, 50. The above section is copied literally...
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Annual Report of the Pennsylvania Bar Association, Volume 15

Pennsylvania Bar Association - Bar associations - 1909
...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." Apparently, under this provision it has been thought that it was perfectly safe...
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The Modern Law of General Business Corporations in Michigan: Including ...

Burritt Hamilton - Corporation law - 1909 - 448 pages
...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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The Laws of the State of New York Relating to Banks, Banking, Trust ...

Willis Seaver Paine - Banking law - 1910 - 811 pages
...payment under any of the provisions of this chapter ; 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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Actions by and Against Corporations at Law and in Equity: Embracing Also ...

Joseph Asbury Joyce - Actions and defenses - 1910 - 875 pages
...payment under any of the provisions of this chapter; 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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