W. C. Richards Co. v. Commissioner
United States Tax Court
The petitioners filed a lawsuit in Chancery in the Superior Court of Cook County, Illinois against the Clark Oil & Refining Corporation. The case, prior to trial, was settled on the basis of the award of arbitrators, pursuant to an arbitration and settlement agreement.
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The petitioners filed a lawsuit in Chancery in the Superior Court of Cook County, Illinois against the Clark Oil & Refining Corporation. The case, prior to trial, was settled on the basis of the award of arbitrators, pursuant to an arbitration and settlement agreement. Held, under the agreement: (1) That the individual petitioners sold their improved real estate on Vermont Street to Clark, and Clark purchased it, for $222,500, the amount of the arbitrators' award and decision, which sum represented the replacement value and reproduction-new value of the Vermont Street land and improvements.…
1Opinion of the Court
W. C. Richards Co. (Inc.), and William C. Richards and Grace J. Richards v. Commissioner.
W. C. Richards Co. v. Commissioner
Docket Nos. 1295-63, 1296-63.
United States Tax Court
T.C. Memo 1966-171; 1966 Tax Ct. Memo LEXIS 112; 25 T.C.M. (CCH) 884; T.C.M. (RIA) 66171;
July 21, 1966
The petitioners filed a lawsuit in Chancery in the Superior Court of Cook County, Illinois against the Clark Oil & Refining Corporation. The case, prior to trial, was settled on the basis of the award of arbitrators, pursuant to an arbitration and settlement agreement. Held, under the agreement: (1) That the individual…
2Cases cited14 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Helvering v. HammelSupreme Court of the United States · 1941
- Continental Tie & Lumber Co. v. United StatesSupreme Court of the United States · 1932
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Electro-Chemical Engraving Co. v. CommissionerSupreme Court of the United States · 1941
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