Going Concern
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
Some enterprise which is being carried on as a whoie, and with some particular object in view.
Oliver v. Lansing, 69 Neb. 219, 80 N. W. 829.
The term, when applied to a corporation, means that it continues to transact its ordinary business. The mere fact that a corporation is insolvent does not dissolve it and make the directors mere trustees of its assets, if it is still a going concern; White, Potter & Paige Mfg. Co. v. Importing Co., 30 Fed. 864. It means, as applied to a corporation, one which “is still prosecuting its business with the prospect and expectation of continuing to do so, even though its assets are insufficient to pay its debts;” Corey v. Wadsworth, 99 Ala. 08.
11 South. 350, 23 L. R. A. 618, 42 Am. St. Rep. 29.
The “going value” is that which results from having an established business as a going concern; Cedar Rapids Water Co. v. City of Cedar Rapids, 118 la. 234, 91 N. W. 1081, where, in deciding whether water rates fixed by ordinance were confiscatory, the going value was not to be considered as a distinct element of the value of the plant