Ramirez v. Amsted Industries, Inc.

171 N.J. Super. 261 (1979)

408 A.2d 818

EFRAIN RAMIREZ AND LAURA RAMIREZ, HIS WIFE, PLAINTIFFS-APPELLANTS,

v.

AMSTED INDUSTRIES, INC., DEFENDANT-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Argued September 11, 1979.

Decided November 15, 1979.

Before Judges CRANE, MILMED and KING.

William Pollack argued the cause for appellants.

Norman S. Costanza argued the cause for respondent (Morrison & Griggs, attorneys).

The opinion of the court was delivered by KING, J.A.D.

This case presents the question of whether a corporation which purchases the assets of another corporation for cash may avoid…