Carrier v. Dixon

This action was instituted hy complainants to annul and set aside a transfer of the property of the Carrier Chair Company made to defendants pursuant to a majority vote of the stockholders of said corporation on. September 4, 1915, directing a sale of the property. The basis of relief sought was noncompliance with the provisions of chapter 437 of the Acts of 1907, that the action taken was that of the stockholders and not of the directors of the corporation, and that the transaction was fraudulent and void, in that the consideration of the transfer was so inconsiderate as to constitutfe an…