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can someone explain substance over form, pls

This topic has 2 replies, 2 voices, and was last updated 11 years ago by MikeLittle.

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June 3, 2013 at 8:38 am #128377
adekoyaabiola
Member
- Topics: 1
- Replies: 1
explainin features that indicate subtance of a transactn from its legal form
June 3, 2013 at 10:42 am #128389
MikeLittle
Keymaster
- Topics: 27
- Replies: 23267
Commercial reality rather than strict legal form. Sale of goods where risks and rewards of ownership don’t pass. Leases. Consignment inventory. Debt factoring. All have the legal appearance of sales but, in fact, risks and rewards don’t pass.
June 3, 2013 at 10:42 am #128390
MikeLittle
Keymaster
- Topics: 27
- Replies: 23267
Commercial reality rather than strict legal form. Sale of goods where risks and rewards of ownership don’t pass. Leases. Consignment inventory. Debt factoring. All have the legal appearance of sales but, in fact, risks and rewards don’t pass.
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