Ross v. Commissioner
United States Board of Tax Appeals
1. SALE OR OPTION - CONSTRUCTION OF A CONTRACT. - A certain agreement dated February 10, 1923, construed in connection with a certain trust agreement dated March 22, 1923, and held to constitute an installment sale of 703.2 acres of land rather than a mere option to purchase such land in parcels. 2. INSTALLMENT OBLIGATIONS TRANSMITTED AT DEATH. - CONSTITUTIONALITY AND APPLICATION OF SECTION 44(d), 1928 ACT. - Decedent died on December 10, 1928, owning uncollected installment…
Read the full summary
1. SALE OR OPTION - CONSTRUCTION OF A CONTRACT. - A certain agreement dated February 10, 1923, construed in connection with a certain trust agreement dated March 22, 1923, and held to constitute an installment sale of 703.2 acres of land rather than a mere option to purchase such land in parcels. 2. INSTALLMENT OBLIGATIONS TRANSMITTED AT DEATH. - CONSTITUTIONALITY AND APPLICATION OF SECTION 44(d), 1928 ACT. - Decedent died on December 10, 1928, owning uncollected installment obligations from an installment sale of real estate made by him in 1923, having a stipulated fair market value on the…
1Opinion of the Court
*234OPINION.
Black :
The issues which we have to decide in this proceeding are as follows:(1) Does the agreement dated February 10, 1923, together with the declaration of trust dated March 22, 1923, detailed in our findings of fact, constitute an installment sale of the 703.2 acres of land described therein or does the agreement, together with the declaration of trust, constitute a mere option to purchase the 703.2 acres in parcels, such option to be exercised from time to time as to separate parcels by the recordation of plats thereof?(2) Are the provisions of section 44 (d) of the Bevenue Act of…
2Cases cited11 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Heryford v. DavisSupreme Court of the United States · 1880
- Brickell v. Atlas Assurance Co., Ltd.California Court of Appeal · 1909
- Menzel v. PrimmCalifornia Court of Appeal · 1907
- B. B. Todd, Inc. v. CommissionerUnited States Board of Tax Appeals · 1925
6 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Estate of Papson v. CommissionerUnited States Tax Court · 1983
- Provident Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Crane v. CommissionerUnited States Board of Tax Appeals · 1934
- Williams v. CommissionerUnited States Board of Tax Appeals · 1934
- Estate of Papson v. CommissionerUnited States Tax Court · 1983
6 more not listed; retrieve them via the Exa API.