Ex parte: Master (In Re Ferreira Produce Co Ltd in Liquidation) [1912] ZATPD 144 (28 November 1912)

Company .-Directors .-Public examination.-Fraud.Purchase of valueless assets.-Articles of Association.

Where the directors of a company in accordance with
instructions in the articles of association purchased
a business which was valueless, Held, that it was not
a fraud in connection with the formation or conduct
of the company though it might be a fraud in connection
with its promotion.