Blick v. Commissioner
United States Tax Court
Petitioner held options or contracts to purchase four parcels of real property. Each was in form a contract of purchase and sale, but petitioner's liability was limited to retention by the seller of the deposit. A corporation desired to buy the properties under contract plus certain adjoining parcels, but only if all could be acquired.
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Petitioner held options or contracts to purchase four parcels of real property. Each was in form a contract of purchase and sale, but petitioner's liability was limited to retention by the seller of the deposit. A corporation desired to buy the properties under contract plus certain adjoining parcels, but only if all could be acquired. A contract was entered into whereby petitioner agreed to sell and the corporation agreed to purchase all of the desired tracts at a stated overall price. Petitioner then acquired options or contracts to purchase covering the other parcels. All conveyances were…
1Opinion of the Court
Louis D. Blick and Anne Blick, Petitioners, v. Commissioner of Internal Revenue, Respondent
Blick v. Commissioner
Docket No. 62553
United States Tax Court
31 T.C. 611; 1958 U.S. Tax Ct. LEXIS 1;
December 31, 1958, Filed
Decision will be entered for the respondent.
Petitioner held options or contracts to purchase four parcels of real property. Each was in form a contract of purchase and sale, but petitioner's liability was limited to retention by the seller of the deposit. A corporation desired to buy the properties under contract plus certain adjoining parcels, but only if all could be acquired. A…
2Cases cited5 opinions
- Max H. Barber v. United States of America, William L. Taylor v. United StatesCourt of Appeals for the Eighth Circuit · 1954
- Blick v. CommissionerUnited States Tax Court · 1958
- Sooy v. HenkelmanSupreme Court of New Jersey · 1928
- Hildinger v. BishopNew Jersey Court of Chancery · 1939
- Clusman v. Wall-Murray Corp.Supreme Court of New Jersey · 1943