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Simple English definitions for legal terms

sale-of-business doctrine

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A quick definition of sale-of-business doctrine:

The sale-of-business doctrine used to be a rule that said when a business is sold, the stocks that come with it are not considered securities. However, this rule was rejected by the U.S. Supreme Court in 1985 in Landreth Timber Co. v. Landreth and Gould v. Ruefenacht.

A more thorough explanation:

The sale-of-business doctrine used to be a rule that said when a business is sold, the transfer of stock (ownership) does not count as a transfer of securities (investments). However, this rule is no longer used.

For example, if a company called ABC Inc. was sold to a new owner, and the old owner transferred ownership of the company to the new owner by giving them stock in the company, this used to not be considered a transfer of securities. But now, it is considered a transfer of securities.

This change was made by the U.S. Supreme Court in 1985 in a case called Landreth Timber Co. v. Landreth and its companion case, Gould v. Ruefenacht.

Basically, this means that when a business is sold and ownership is transferred through stock, it is now considered a transfer of securities.

sale note | sale of land

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im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
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