Godfrey v. Commissioner
United States Board of Tax Appeals
1. WAIVERS - DISSOLVED CORPORATIONS - POWERS OF OFFICERS AND TRUSTEES. - Where a corporation has dissolved in accordance with a state law which places its affairs in the hands of its directors, as liquidating trustees, its president is without authority to bind it by a waiver, signed by him as such, so as to stay the running of the statute of limitations against the assessment of further taxes against the corporation for prior years.
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1. WAIVERS - DISSOLVED CORPORATIONS - POWERS OF OFFICERS AND TRUSTEES. - Where a corporation has dissolved in accordance with a state law which places its affairs in the hands of its directors, as liquidating trustees, its president is without authority to bind it by a waiver, signed by him as such, so as to stay the running of the statute of limitations against the assessment of further taxes against the corporation for prior years. Held, further, that under such conditions the fact that the president of the dissolved corporation, who signed such waivers, was likewise a member of its board…
1Opinion of the Court
*780OPINION.
Lansdon:
Except for the question of the statute of limitations, the evidence fully sustains the determinations of the respondent with respect to the liability of the petitioners as transferees of the assets of the delinquent corporation. Petitioners concede that upon dissolution of the corporation they distributed its assets to themselves and the evidence supports our findings that the value of the property received by each of these petitioners at the time was equal to and in excess of the amount of the liability determined against him. We also find that at the time of the passage of…
2Cases cited12 opinions
- Russell v. United StatesSupreme Court of the United States · 1929
- Winslow v. Baltimore & Ohio RailroadSupreme Court of the United States · 1903
- Anthony v. JanssenCalifornia Supreme Court · 1920
- Wilbur v. AlmySupreme Court of the United States · 1852
- Patterson v. LeavittSupreme Court of Connecticut · 1821
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3Cited by2 opinions
- Godfrey v. CommissionerUnited States Board of Tax Appeals · 1930
- Southwestern Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1930