Legal Opinion

Maysteel Products Corp. v. United States

District Court, E.D. Wisconsin

Decided March 8, 1972No. 70-C-262Published

1Opinion of the Court

DECISION and ORDER

MYRON L. GORDON, District Judge.

In late November, 1964, a contract was executed under which the plaintiff in the above-entitled action, Maysteel Products Corp. (“new Maysteel”) acquired the assets of Maysteel Products, Inc. (“old Maysteel”). Paragraph four of the contract provided, in part:

“The purchase price to be paid by Purchaser to Seller for the Property shall consist of the following:
“A. For all items of the Property (other than inventories) which are carried as current assets in Seller’s books of account, the purchase price shall be an amount equal to the book value…

2Cases cited7 opinions

  1. Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
  2. Audrey L. Zeeman, Individually and as of the Estate of Leon S. Lees, Jr. v. United StatesCourt of Appeals for the Second Circuit · 1968
  3. F. & D. Rentals, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1966
  4. Wilson Athletic Goods Mfg. Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1955
  5. Particelli v. Commissioner of Internal Revenue. Particelli's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1954

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