Legal Opinion
Walker v. Continental Life & Accident Co.
Court of Appeals for the Ninth Circuit
Decided June 23, 1971No. Nos. 23490, 23607 and 23608PublishedCited by 11 opinions
1Opinion of the Court
DUNIWAY, Circuit Judge:
Walker and the Mausers brought these actions under diversity jurisdiction, 28 U.S.C. § 1332, to rescind certain annuity loan transactions and to recover their “out-of-pocket” interest payments on the ground that the commercial purpose of the transactions was frustrated when the Supreme Court in Knetsch v. United States, 1960, 364 U.S. 361, 81 S.Ct. 132, 5 L.Ed.2d 128, ruled that such transactions were a sham and that the “interest” payments were not deductible from gross income. The District Court granted rescission and awarded judgments of $107,963.60 in favor of the…
2Cases cited9 opinions
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Commissioner v. BrownSupreme Court of the United States · 1965
- United States v. Robert Rutherford Bond and Margaret E. BondCourt of Appeals for the Fifth Circuit · 1958
- West Los Angeles Institute for Cancer Research v. Ward MayerCourt of Appeals for the Ninth Circuit · 1966
- Karl F. Knetsch and Eva Fay Knetsch v. United StatesCourt of Appeals for the Ninth Circuit · 1959
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Peter Jovanovich and Julienne Jovanovich, His Wife v. United StatesCourt of Appeals for the Ninth Circuit · 1987
- Hartford Life Insurance v. Title Guarantee Co.Court of Appeals for the D.C. Circuit · 1975
- Evans v. Valley West Shopping Center, Inc.Court of Appeals for the Ninth Circuit · 1978
- United States of America for Use of Youngstown Welding & Engineering Co. v. Travelers Indemnity Co.Court of Appeals for the Ninth Circuit · 1986
- United States v. Travelers Indemnity CompanyCourt of Appeals for the Ninth Circuit · 1986
6 more not listed; retrieve them via the Exa API.