In a decision of 18 October 1994, nø 1854, the French Supreme Court (Cour de Cassation ) decided that an agreement for the lease of an entire business does not constitute a disguised sale if the owner still has the possibility to recover direct control of the business. The fact that the agreement has been followed by the sale of all the equipment necessary to the business, or that the lease payments for four years are equivalent to the valuation of the business by Tax Authorities, is not proof of a sale.
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