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

资深译员Barbara，毕业于国内顶尖的高级翻译学院，擅长翻译各类与兼并收购相关的法律文件。