Bear Valley Land & Water Co. v. Savings & Trust Co.

Citations

• 117 F. 941
• 1902 U.S. App. LEXIS 5154

Syllabus

<p>1. Corporations—Cancellation of Deed as Ultra Vires—Estoppel.</p> <p>Where a corporation sold and conveyed all its property to another corporation, in part consideration for which the latter assumed payment of the grantor’s debts, some of which it paid, while it renewed others, and paid the remainder of the consideration agreed upon, the grantor cannot maintain a suit in equity, after the lapse of five years, to set aside the conveyance as ultra vires, or on the ground of fraud, and recover the property, to the prejudice of third persons, who, without knowledge or notice of such claims, have acquired interests in or liens upon the property through the grantee.</p>