King v. Commissioner
United States Board of Tax Appeals
During 1920, while married and a resident of Texas, petitioner entered into an oral contract to prosecute a lawsuit, and receive compensation therefor only in the event that the final outcome of the suit would be successful to his client. Early in 1923 petitioner obtained for his client a judgment of over $2,000,000 in the lower court. The defendant appealed, and on August 31, 1923, while the appeal was pending, petitioner's wife died.
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During 1920, while married and a resident of Texas, petitioner entered into an oral contract to prosecute a lawsuit, and receive compensation therefor only in the event that the final outcome of the suit would be successful to his client. Early in 1923 petitioner obtained for his client a judgment of over $2,000,000 in the lower court. The defendant appealed, and on August 31, 1923, while the appeal was pending, petitioner's wife died. On July 22, 1924, the lawsuit was settled out of court for about 75 per cent of the judgment rendered by the lower court, and on September 8, 1924, petitioner…
1Opinion of the Court
JOHN M. KING, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
King v. Commissioner
Docket No. 41549.
United States Board of Tax Appeals
26 B.T.A. 1158; 1932 BTA LEXIS 1180;
October 11, 1932, Promulgated
During 1920, while married and a resident of Texas, petitioner entered into an oral contract to prosecute a lawsuit, and receive compensation therefor only in the event that the final outcome of the suit would be successful to his client. Early in 1923 petitioner obtained for his client a judgment of over $2,000,000 in the lower court. The defendant appealed, and on August 31, 1923,…
2Cases cited1 opinion
- King v. CommissionerUnited States Board of Tax Appeals · 1932