§ 1904. De facto transaction doctrine abolished.
The doctrine of de facto mergers, consolidations and other fundamental transactions is abolished and the rules laid down by Bloch v. Baldwin Locomotive Works, 75 Pa. D. & C. 24 (C.P. Del. Cty. 1950), and Marks v. The Autocar Co., 153 F.Supp. 768 (E.D. Pa. 1954), and similar cases are overruled. A transaction that in form satisfies the requirements of this title may be challenged by reason of its substance only to the extent permitted by section 1105 (relating to restriction on equitable relief).
(Oct. 22, 2014, P.L.2640, No.172, eff. July 1, 2015)
Section: Previous 1901 1902 1903 1904 1905 1906 1907 1908 1911 1912 1913 1914 1915 1916 NextLast modified: October 8, 2016