sale of business doctrine
sale-of-business doctrine. The outmoded rule holding that the transfer of stock incident to the sale of a business does not constitute a transfer of securities. • This doctrine was rejected by the U.S. Supreme Court in Landreth Timber Co. v. Landreth, 471 U.S. 681, 105 S.Ct. 2297 (1985), and its companion case, Gould v. Ruefenacht, […]
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