(DOWNLOAD) "Park Terrace Inc. v. Burge" by Supreme Court of North Carolina No. 390 * Book PDF Kindle ePub Free
eBook details
- Title: Park Terrace Inc. v. Burge
- Author : Supreme Court of North Carolina No. 390
- Release Date : January 14, 1959
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 56 KB
Description
As we construe the facts revealed on the record before us, the question to be determined is not whether these defendants acted in bad faith as officers and directors of the plaintiff corporation in connection with the transactions of which the plaintiff complains; the determinative question, in our opinion, is whether or not the plaintiff corporation, in light of all the facts and circumstances revealed by the record, may maintain an action to recover the consideration paid to these defendants for the purchase and retirement of the B stock. It is difficult to understand how the payment of $221,000 for the purchase and retirement of this stock could have been for the best interest of the plaintiff corporation. Even so, we must consider the factual situation as it existed at the time of the sale of this stock to the plaintiff corporation for retirement.