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determined...to exceed

English translation: declared/found ... to be worth more than

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05:35 Jul 6, 2007
English to English translations [PRO]
Law/Patents - Law: Contract(s) / Contribution Agreement
English term or phrase: determined...to exceed
I am having problems trying to grasp the meaning of the words listed above.

They appear in the following paragraph:

FURTHER RESOLVED, that the fair market values of the assets listed above be, and such values hereby are, ***determined by the Board of Directors of the Corporation to exceed*** the par value of the common stock for which the assets form the consideration for issuance.

For the time being, my backtranslation (from Spanish) of the above paragraph is like this:

Furthermore, it was resolved that the fair market values of the assets listed above (should) be those determined by the Board of Directors of the Corporation as above the par value of the common stock for which the assets are the reason for the issuance.

Thanks for any suggestion.
Wilsonn Perez Reyes
El Salvador
Local time: 16:39
English translation:declared/found ... to be worth more than
Explanation:
English -to- English, I'd say, to simplify it:
"... should be those which the Board of Directors finds to be worth more than the par-value of the company's own common shares."
Selected response from:

jack_speak
Local time: 18:39
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3declared/found ... to be worth more than
jack_speak
3the Board has determined that the values above are greater than the par value...
Andrew Levine


Discussion entries: 5





  

Answers


40 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
determined...as being above
declared/found ... to be worth more than


Explanation:
English -to- English, I'd say, to simplify it:
"... should be those which the Board of Directors finds to be worth more than the par-value of the company's own common shares."

Example sentence(s):
  • "... assets worth more than the par value of the shares ..."
  • "... legal consideration for said stock, and that said leases and rights were worth more than the par value of said stock."

    Reference: http://links.jstor.org/sici?sici=0010-1958(192911)29%3A7%3C9...
    Reference: http://www.oscn.net/applications/oscn/deliverdocument.asp?ci...
jack_speak
Local time: 18:39
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Jack Doughty: Hi. There's also Jack Slep (in USA). You might try looking him up.
20 mins
  -> Thank you, Jack. I don't know to many other Jacks. Nice to make the acquaintance!

agree  Elena Aleksandrova
4 hrs
  -> Thanks, Elena.

agree  xxxAlfa Trans
8 hrs
  -> Thanks, Marju.
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43 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
the Board has determined that the values above are greater than the par value...


Explanation:
It seems to me that, in plainer language than the original text puts it, it has been resolved that the Board has determined that the above given values are higher than the par value of the common stock.

For clarity's sake I would use two different Spanish words for "above", since it's being used in two different senses in one sentence.

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Note added at 44 mins (2007-07-06 06:20:22 GMT)
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In that last comment, I was talking about the back-translation, not the original.

Andrew Levine
United States
Local time: 18:39
Specializes in field
Native speaker of: Native in EnglishEnglish
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