Judgment affirmed, with one bill of costs.
In our opinion, even assuming that there was personal benefit to the directors of the defendant lessor resulting from the transaction complained of, the mere showing of such facts would not as a matter of law invalidate the leases. (Everett v. Phillips, 288 N.Y. 227.) While proof of bad faith of the directors and unfairness to the corporation may result in a declaration of invalidity, that was a question of fact which...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.