Sundial Asphalt Co. v. V.P.C. Investors Corp. (In Re Sundial Asphalt Co.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating in dicta that an exercised option contract is not subject to rejection
• “[a] contract for the sale of land ceases to be executory, or rejectable in bankruptcy, at the instant a decree of specific performance is issued.”
• installment land sale contract was security device not an executory contract under Section 365
• “Under the ‘business judgment’ test, an executory contract . . . should be rejected if the debtor can demonstrate that rejection will benefit the estate.” (citation omitted)

Source: CourtListener parenthetical corpus (CC0).