Going Concern

A business establishment which continues to transact its ordinary business, though it may be embarrassed, or even insolvent. 30 Fed. 865,

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

A firm or corporation which, though embarrassed or even insolvent, continues to transact its ordinary business. White, etc., Mfg. Co. v. Pettes Importing Co. (C. G.) 30 Fed. 865; Corey v. Wadsworth, 99 Ala. 68, 11 South. 350, 23 L. R. A. 618, 42 Am. St. Ren. 55.

Defined under Going in Black's Law Dictionary.

<A firm or corporation which, thongh embarrassed or even insolvent, continues to transact its ordinary business. 30 Fed. Rep. 865.