U.S. Supreme Court
Pneumatic Gas Company v. Berry, 113 U.S. 322 (1885)
Pneumatic Gas Company v. Berry
Argued January 7, 1885
Decided February 2, 1885
113 U.S. 322
A release by a corporation to one of its directors of all claims, equitable or otherwise, arising out of transactions under a contract between the corporation and the director made in excess of its corporate powers is valid, if made in good faith and without fraud or concealment.
The facts which make the case are stated in the opinion of the Court.