Dailey v. Foster

Citations

• 17 N.M. 654
• 134 P. 206

Syllabus

<p>SYLLABUS (BY THE COURT).</p> <p>1. Where property is purchased and the stock of a corporation is issued in payment therefor, under section 55, chapter 79, S. L. 1905, and a question arises as to whether the stock so issued is fully paid, and the court is called upon to determine the value of the property taken in exchange for such stock, and the bona fides of the transaction, the true criterion is the “actual cash value” of the property, and the honest judgment of the directors thereon.</p> <p>2. The “actual cash value” of property is the price which it will bring in a fair market, after fair and reasonable efforts have been made to find a purchaser who will give the highest price.</p> <p>3. Where the burden of proof is on the plaintiff, and judgment is entered for the defendant, the presumption is that the court found all the material issues in favor of the defendant.</p> <p>4. Findings of fact cannot be aided by inference or intendment, and silence upon a material point must be regarded as a finding against the party having the burden.</p> <p>5. A party who does not request the court to find upon a particular issue and who makes no objection, at the time, to the failure of the court to find thereon, waives thereby all objection to the deficiency of the findings in that respect.</p>