Judge Supperstone said there was "no basis" for Mr Bennett challenging the decision of the magistrates, adding the case was "hypothetical" anyway as the law had since changed with the introduction of new legislation governing 24-hour drinking.
Justice Antonin Scalia posed the challengers' favorite hypothetical when he suggested the government's defense of the law could potentially apply to any product.
Here's the key: Under current law, the limited partnership interests are valued for gift and estate tax purposes at what a hypothetical, unrelated buyer would pay for them.