1904 - De facto transaction doctrine abolished.
§ 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 subpart may be challenged by reason of its substance only to the extent permitted by section 1105 (relating to restriction on equitable relief). Cross References. Section 1904 is referred to in sections 1571, 1930 of this title.