Well if it is an '88 760 with a B280 motor in it then it should have the EZ115K ignition system in it which does not utilize a hall sensor like the older stuff does. The 117K system like you would see in a B230FT turbo car of the same year would use the hall sensor that is mounted inside the distributor. 1988 was the first year for the all new and improve V6, the B280, and with it came the crank position sensor, the sensor does just what it says it does. It provides crank shaft position information for the ignition control unit, there is also a "No. 1 cylinder position transducer". I do not know for a fact but I would speculate that it's purpose is to provide cam position so that the ignition ECU knows which stroke it is actually on. Some of the older domestic ignition systems actually went without a cam position sensor of any kind and just went ahead and fired off the plugs on the compression as well as the exhaust stroke, know as the wasted spark system. The later cars like the 850's can actually run with the cam sensor disconnected. Once the vehicle is running the computer knows where it is in the cycle and just continues to count "1,2,3,4", so that if you unplug that sensor it just logs a code and keeps on ticking. Now if you shut it off it has no way off knowing where the heck it is in the cycle and it will not restart. Hope this answers your question.

Rule 308