Matter of N.Y. World-Telegram Corp. v. McGoldrick
New York Court of Appeals
I. The installment payments made by petitioner and credited to its purchase option for the period from Decembe'r 10, 1934, to July 1, 1940, are not subject to tax. An agreement which imposes an unconditional obligation to pay for tangible personal property with the right or option in the obligor to become the owner of such property upon full compliance with the terms of the contract is a conditional sale agreement.
Read the full summary
I. The installment payments made by petitioner and credited to its purchase option for the period from Decembe'r 10, 1934, to July 1, 1940, are not subject to tax. An agreement which imposes an unconditional obligation to pay for tangible personal property with the right or option in the obligor to become the owner of such property upon full compliance with the terms of the contract is a conditional sale agreement. (Uniform Laws Annotated, Vol. 2A, p. 23; Williston on Sales [2d ed.], Vol. I, § 336; Central Union Gas Go. v. Browning, 210 N. Y. 10.) II. The payments made on account of interest,…
1DissentFtjld, J.
In disregard of settled restrictions on judicial review of a determination by an administrative agency, the majority of the court is upsetting an administrative decision which, depending upon a finding of fact, has reasonable support in the record. (See, e.g., Matter of Miller v. Kling, 291 N. Y. 65; cf. Matter of Mounting & Finishing Co. v. McGoldrick, 294 N. Y. 104, 108.)
The question before the Comptroller of the City of New York was whether the agreement of October 1, 1931 — called a lease by the parties — effected a conditional sale of the personal property to which it related. If it did,…
2Cases cited5 opinions
- Matter of Mounting Finishing Co. v. McGoldrickNew York Court of Appeals · 1945
- Matter of Miller v. KlingNew York Court of Appeals · 1943
- Gardner v. Town of CameronAppellate Division of the Supreme Court of the State of New York · 1913
- Gardner v. . Town of CameronNew York Court of Appeals · 1915
- Cutler Mail Chute Co. v. CrawfordAppellate Division of the Supreme Court of the State of New York · 1915