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, 471 U.S. 701, 105 S.Ct. 2308 (1985). [Cases: Securities Regulation 5.25(2). C.J.S. Securities Regulation § 27.]

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词条贡献者

法律翻译亚明，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与汽车与运输有关的法律文件。