The sale of a business will be presumed, in the absence of any expression to the contrary in the agreement of sale, to pass the good will of the business with other assets.Ħ. The fact that a cafe operated by a partnership since about October 3, 1944, until about June 20, 1947, and which operated at a profitĭuring the year 1945, and at a larger profit during the year 1946, operated at a loss during the period from Januto June 20, 1947, does not establish that the cafe business had no good will on June 20, 1947.ĥ. A business may possess good will even though it has been operated for a short period of time without net profits, or at a loss. The good will of a partnership business is a part of the firm assets.Ĥ. The good will of a business is property transferable in the same manner as any other. The good will of a business is the expectation of continued public patronage, but it does not include a right to use the name of any person from whom it was acquired.
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