Practice question
What principally distinguishes an asset-only purchase from a business-enterprise transfer in Y-I Leisure's discussion?
- The color of the purchase document.
- The buyer's preferred accountant.
- Acquisition of raw assets alone versus acquisition of the operating business and its goodwill.
- Whether the buyer has a logo.
- Whether the purchase occurs on a weekday.
Legal references
- Y-I Leisure v. Yu, GR207161, September8 2015, main decision: https://lawphil.net/judjuris/juri2015/sep2015/gr_207161_2015.html
- RA11232, RCC, Sections39 and73–74: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
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