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The doctrine that allows a creditor to seek recovery from the purchaser of assets even when the purchaser did not expressly assume such liabilities as part of the purchase is called?.

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Successor Liability a rule of state law that permits a creditor to sue the buyer of assets for obligations that weren't taken on as part of a transaction. The idea of successor liability is more frequently used in the contexts of products liability, environmental cleanup, and employment law.

What is Successor Liability?

The idea of successor liability is more frequently used in the contexts of products liability, environmental cleanup, and employment law. In general, the asset acquisition process does not instantly transfer the seller's liabilities to the asset buyer. However, if a court decides that the requirements of one of the following exceptions are satisfied, the buyer may occasionally be held accountable for the seller's obligations:

  • The obligations are impliedly or expressly assumed by the buyer.
  • According to state law, the deal constitutes a de facto merger.

To know more about doctrine, refer:

brainly.com/question/15042675

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