Lunde v. Town of Slater
Supreme Court of Iowa
Appeal from Story District Court. — E. M. McCall, Judge. This case involves an appeal from the action of the town council of defendant town, sitting as a board of review, in' raising the assessment for moneys and credits against appellee $25,000, on account of a contract which appellee says was an option contract, and not properly assessable as moneys and credits; but appellant contends that it is a contract of sale for the sale of real estate, and has been so treated by the…
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Appeal from Story District Court. — E. M. McCall, Judge. This case involves an appeal from the action of the town council of defendant town, sitting as a board of review, in' raising the assessment for moneys and credits against appellee $25,000, on account of a contract which appellee says was an option contract, and not properly assessable as moneys and credits; but appellant contends that it is a contract of sale for the sale of real estate, and has been so treated by the parties, and is. properly assessable, and that the contract was drawn for the purpose of evading taxation. The district…
1Opinion of the CourtPreston, J.
1. Taxation: option contract: money and •• credits: assessment. 1. Appellant says that the only question is as to whether, under, the law, the instrument in question was such an instrument as to be subject to taxation. Appellee cites a number of authorities to the proposition that an option contract is not assessable, and appellant concedes in argument that, if the contract in question is an option contract, then it is not assessable. The contract, executed March 1, 1915, between EL E. Lunde and wife, first parties, to J. E. Sheldahl, second party, is quite lengthy, and we do not deem it…
2Cases cited14 opinions
- Sheehy v. ScottSupreme Court of Iowa · 1905
- Hopwood v. McCauslandSupreme Court of Iowa · 1903
- Barnes v. ReaSupreme Court of Pennsylvania · 1908
- In re Listing & Assessing Property of Shields Bros.Supreme Court of Iowa · 1907
- Burns v. McNallySupreme Court of Iowa · 1894
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