Buxton v. Pennsylvania Lumber Co.

Citations

• 221 F. 718
• 1914 U.S. Dist. LEXIS 1307

Syllabus

<p>1. Corporations <@=>442—Conveyance op Property—Validity op Deed.</p> <p>Provisions of a state statute, requiring the consent of stockholders to the conveyance of real property of a corporation and the filing of such consent in the county where the corporation has its principal place of business, are for the protection of stockholders, and they alone can take advantage of a failure to comply with them. Where such consent was given in writing, a failure to file the same does not Invalidate a deed executed pursuant thereto.</p> <p>[Ed. Note.—For other cases, see Corporations, Cent. Dig. § 1782; Dec. Dig. <@=>442.]</p> <p>2. Fraudulent Conveyances <@=>295—Evidence to Establish Fraud—Sufficiency.</p> <p>Evidence considered, and held insufficient to invalidate deeds to lands made by a corporation, on the ground that, they were made to hinder, delay, or defraud its creditors.</p> <p>[Ed. Note.—For other eases, see Fraudulent Conveyances, Cent. Dig. §§ 867-875; Dec. Dig. <@=>295.]</p> <p>3. Execution <@=>264—Sale—Title and Rights op Purchaser.</p> <p>A purchaser of land at execution sale takes no more than the judgment debtor’s right and estate at the time of the sale, and assumes the risk of any defects in the debtor’s title, whether he bought with or without notice.</p> <p>[Ed. Note.—For other cases, see Execution, Cent. Dig. §§ 747-758; Dee. Dig. <@=>264.]</p> <p>4. Execution <@=>272—Sale—Rights of Purchaser from Execution Purchaser—“Bona Fide Purchaser.”</p> <p>A purchaser of land from an execution purchaser is bound to know any defects in the records on which the execution rests, and is not protected as a “bona fide purchaser” without notice.</p> <p>[Ed. Note.—For other cases, see Execution, Cent. Dig. §§ 771, 781-788; Dec. Dig. <@=>272.</p> <p>For other definitions, see Words and Phrases, First and Second Series, Bona Fide Purchaser.]</p> <p>5. Execution <@=>275—Sale—Rights of Purchaser—Void Judgment.</p> <p>A sale made under an execution issued on a void judgment