H. Gumbiner v. Commissioner
United States Tax Court
Petitioner owned 230 of 260 outstanding shares of Gumbiner Amusement Company, of which he was president. He transferred such shares to one Schaak as security for the payment of a debt.
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Petitioner owned 230 of 260 outstanding shares of Gumbiner Amusement Company, of which he was president. He transferred such shares to one Schaak as security for the payment of a debt. Thereafter such stock was sold upon execution sale to a Bank which had obtained a judgment against petitioner on a defaulted promissory note of $38,000, payable March 6, 1933. After unsuccessful attempts to collect on the judgment and after the commencement of a suit by the Bank against petitioner and others, including Robert Gumbiner, who claimed an interest in the stock superior to the Bank, an agreement was…
1Opinion of the Court
H. L. Gumbiner v. Commissioner.
H. Gumbiner v. Commissioner
Docket No. 5312.
United States Tax Court
1946 Tax Ct. Memo LEXIS 3; 5 T.C.M. (CCH) 1119; T.C.M. (RIA) 46299;
December 31, 1946
Petitioner owned 230 of 260 outstanding shares of Gumbiner Amusement Company, of which he was president. He transferred such shares to one Schaak as security for the payment of a debt. Thereafter such stock was sold upon execution sale to a Bank which had obtained a judgment against petitioner on a defaulted promissory note of $38,000, payable March 6, 1933. After unsuccessful attempts to collect on the judgment…
2Cases cited11 opinions
- Meyer v. CommissionerUnited States Board of Tax Appeals · 1941
- Lawrence v. I. N. Parlier Estate Co.California Supreme Court · 1940
- Mercantile Trust Co. of S.F. v. DoeCalifornia Court of Appeal · 1914
- Savings Union Bank & Trust Co. v. CrowleyCalifornia Supreme Court · 1917
- Robinson v. RaquetCalifornia Court of Appeal · 1934
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