ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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. Wood, the receiver of Stanton Oil Company, sued
Stanton’s shareholders to recover dividends paid to them
for three years, claiming that at the time these dividends
were declared, Stanton was in fact insolvent. Wood did
not allege that the present creditors were also creditors
when the dividends were paid. Were the dividends
wrongfully paid? Explain
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