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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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Hubbell's Legal Directory for Lawyers and Businessmen ...

Lawyers - 1907
...issued shall 1:* fully paid and non-assessable. 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. Corporations may hold stock, bonds, securities, or evidences...
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Corporate Promotions and Reorganizations

Arthur Stone Dewing - Corporate reorganizations - 1914 - 615 pages
...shares ($13740,000). 1 $10,000 had already been paid, as stated in preceding note. in the transaction, the judgment of the directors as to the value of the property purchased shall be conclusive." Considering, however, that none of the Directors were conversant in the least...
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Commentary on the Science of Organization and Business Development

Robert John Frank - Consolidation and merger of corporations - 1914 - 324 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". refuses to hold liable a purchaser from an existing stockholder...
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Corporation Laws of the State of Oregon: Including the 1911-1913-1915 ...

Oregon - Corporation law - 1915 - 177 pages
...paid stock and not liable to any assessment; 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 or reports of the corporation to be published or filed,...
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Corporation Laws of the State of Oregon

Laws Oregon (statutes, etc) - Corporation law - 1915
...paid stock and not liable to any assessment; 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 or reports of the corporation to be published or filed,...
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Questions of Moral Theology

Thomas Slater - Christian ethics - 1915 - 426 pages
...stock"; except that any corporation may purchase property by the issue of securities, in which case "the judgment of the directors as to the value of the property purchased shall be conclusive. ' ' ' We have seen what standard Massachusetts adopts for the legal capitalization...
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Handbook of the Law of Private Corporations

William Lawrence Clark - Corporation law - 1916 - 913 pages
...the subject is regulated by statute. Thus, in New York, in the absence of fraud in the transaction, the judgment of the directors as to the value of the property purchased is conclusive.*' In Wetherbee v. Baker *' five persons agreed for the purchase of a tract of land,...
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Annotated Consolidated Laws of the State of New York: As Amended to January ...

New York (State) - Law - 1916 - 7637 pages
...stock may be issued for property as well as for cash, and in the absence of fraud In the transaction, the judgment of the directors as to the value of the property purchased, is made conclusive by the statute. Alpha-Portland Cement Co. v. Schratweiser (1915), 221 Fed. 258....
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Trust Laws and Unfair Competition

Joseph Edward Davies, United States. Bureau of Corporations - Antitrust law - 1916 - 832 pages
...valuation put upon said property, etc. Tliis statement has to be filed before the stock may issue, but olumbia or any insular possession or other place under the jur etc., is conclusive in the absence of fraud.1 Utah requires the affidavit of tlu-ee persons familiar...
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Trust Laws and Unfair Competition

Joseph Edward Davies, United States. Bureau of Corporations - Antitrust law - 1916 - 832 pages
...valuation put upon said property, etc. This statement has to be filed before the stock may issue, but " f $q rI etc., is conclusive in tho absence of fraud.1 Utah requires the affidavit of three persons familiar...
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