The directors of Premier Glass Company authorize the issuance of 100 shares of common stock for $25 per share to Justin for property the directors value at $2,500 . The valuation:
a. is, in all jurisdictions, a matter of opinion on the part of the directors and their valuation is conclusive.
b. if incorrect, whether or not made in good faith, subjects Justin to liability for the difference between the valuation and the actual worth of the property.
c. under the Revised Act, depends on the directors' determination of the consideration's "adequacy.".
d. if fraudulent, subjects the directors to liability to Premier for the difference between the fraudulent valuation and the actual worth of the property.
c
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