Order and judgment affirmed, with $10 costs and disbursements.
The note was given as part of the purchase price for the sale by plaintiffs of all the outstanding capital stock of the defendant to two individuals. Since all the stockholders participated in the transaction, and approved it, and since it does not appear that harm resulted to the public or to creditors of the defendant, the defense of ultra vires is not available. (Kent v. Quicksilver Mining...
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