In a Sec 332 Liquidation, Can a Subsidiary Corporation Recognize Losses on Losses

question 57

Essay

In a Sec. 332 liquidation, can a subsidiary corporation recognize losses on distributions to either the parent corporation or minority shareholders?

Distinguish between assignments and delegations and their respective legal implications.

Analyze the role and rights of third-party beneficiaries in contract assignments.

Identify the limitations and prohibitions on the assignment and delegation of contracts based on statutes or contract terms.

Understand the concept of privity of contract and its exceptions.