GREY:FASDF - Post by User
Post by
pennylane101on Jan 27, 2017 6:54pm
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Post# 25766357
Business Law...
Business Law...I got this excerpt from a business law book by Robert Emerson:
Sale of assets: Sale of all or substantially all the assets of the corporation other than in the regular course of business requires shareholder approval. The meaning of "substantially all" varies from case to case, but the principal test is whether the sale affects the corporate business to the extent that the nature of the shareholders' investment has changed.