Legal Opinion
Budd Tire Corp. v. Pierce Tire Co.
Court of Appeals of North Carolina
Decided July 19, 1988No. 8811DC136PublishedCited by 31 opinions
1Opinion of the Court
EAGLES, Judge.
Sales’ Appeal
Sales’ appeal raises two issues: (1) whether the trial court erred in finding that Sales purchased all of Tire Company’s assets, and (2) even assuming that Sales did purchase all the assets, whether the trial court erred in holding Sales liable for Tire Company’s debt to plaintiff.
A corporation which purchases all, or substantially all, of the assets of another corporation is generally not liable for the old corporation’s debts or liabilities. See McAlister v. Express Co., 179 N.C. 556, 103 S.E. 129 (1920); Robinson, North Carolina Corporation Law and Practice,…
2Cases cited20 opinions
- Marshall v. MillerSupreme Court of North Carolina · 1981
- Hardy v. TolerSupreme Court of North Carolina · 1975
- Bud Antle, Inc. v. Eastern Foods, Inc.Court of Appeals for the Eleventh Circuit · 1985
- Alphonse Cyr, Jr. And Arlene Cyr v. B. Offen & Co., Inc., and Third-Party v. Blanchard Press, Inc., Third-Party Cyrenus Couture, Adm. Estate of Richard Couture v. B. Offen & Co., Inc., and Third-Party v. Blanchard Press, Inc., Third-Party Alphonse Cyr, Jr. And Arlene Cyr v. R. Hoe & Co., Inc., and Third-Party v. Rumford Printing Company, Third-PartyCourt of Appeals for the First Circuit · 1974
- Bulova Watch Co. v. Brand Distributors of North Wilkesboro, Inc.Supreme Court of North Carolina · 1974
15 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- Bryant v. AdamsCourt of Appeals of North Carolina · 1994
- Norman Owen Trucking, Inc. v. MorkoskiCourt of Appeals of North Carolina · 1998
- Pendergrass v. Card Care, Inc.Supreme Court of North Carolina · 1993
- Hamilton v. MORTGAGE INFORMATION SERVICES, INC.Court of Appeals of North Carolina · 2011
- HRW Systems, Inc. v. Washington Gas Light Co.District Court, D. Maryland · 1993
26 more not listed; retrieve them via the Exa API.