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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 Modern Corporation: Its Mechanism, Methods, Formation and Management

Thomas Conyngton - Stock companies - 1910 - 291 pages
...become and be fully paid-up and non-assessable, 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. ARTICLE V. The time of the commencement of this corporation shall be the date...
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New York Bar Examination Questions and Answers

Louis Applebome - Admission to the bar - 1910 - 448 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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The Statutory and Case Law Applicable to Private Companies, with Special ...

James Brooks Dill - Corporation law - 1911 - 783 pages
...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.' Under these provisions, after the property has been purchased and the stock issued...
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Extemporaneous Speaking

Paul Martin Pearson, Philip Marshall Hicks - Oratory - 1912 - 268 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." This section enables any board of directors, so disposed, to water their stock...
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A Manual of Corporate Organization: Containing Information, Directions and ...

Thomas Conyngton - Corporation law - 1913 - 559 pages
...New Jersey, where it was formerly supposed 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"6 — and this with but little regard as to how this judgment was reached. Recent...
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Cases on Private Corporations

George Folger Canfield - Corporation law - 1913 - 985 pages
...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." Under these provisions, after the property has been purchased and the stock issued...
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Reports of the Board of Public Utility Commissioners of the State ..., Volume 1

New Jersey. Board of Public Utility Commissioners - Public utilities - 1913
...that it was there held that "after stock has been issued as full paid stock for property furnished, 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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Commission Leaflets: Recent Commission Orders, Rulings and ..., Issues 14-18

American Telephone and Telegraph Company. Bureau of Commission Research. Legal Dept - Telegraph - 1913
...rights of stockholders inter se, or the rights of stockholders as against directors. To allege that the judgment of the directors as to the value of the property becomes conclusive in all respects whatsoever is manifestly going teyond what we conceive is the intent...
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Annual Report of the Board of Public Utility Commissioners for the State of ...

New Jersey. Board of Public Utilities - Corporations - 1913
...rights of stockholders inter se., or the rights of stockholders as against directors. To allege that the judgment of the directors as to the value of the property becomes conclusive in all respects whatsoever is manifestly going beyond what we conceive is the intent...
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Reports of Cases Decided in the Supreme Court of the State of Oregon, Volume 67

Oregon. Supreme Court, William Wallace Thayer, Joseph Gardner Wilson, Thomas Benton Odeneal, Julius Augustus Stratton, William Henry Holmes, Reuben S. Strahan, George Henry Burnett, Robert Graves Morrow, James W. Crawford, Frank A. Turner, Bellinger, Charles Byron - Law reports, digests, etc - 1914
...paid stock and not liable to any assessments ; 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,'' etc. • The issuance of stock to the four directors of the company to pay for...
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