Smith v. Flathead River Coal Co.

Citations

• 66 Wash. 408
• 119 P. 858
• 1911 Wash. LEXIS 1085

Syllabus

<p>Corporations — Sale oe Property- — Inadequate Price — Rights oe Minority Stockholders- — Injunction. A prospecting and speculating mining company, organized for the purpose of buying, selling, and trading in real and personal property, will not be enjoined from making a sale of all its property (a lease of coal lands) at an alleged inadequate price, where there was no evidence of fraud, the officers exercised their best judgment, and the sale was ratified by a vote of a majority of the stockholders, and the value of the land Was purely speculative; especially where the company was embarrassed financially and unable to prevent forfeiture of the land.</p>