Mitchell v. Commissioner
United States Board of Tax Appeals
1. The word "mutual" used in a postnuptial contract which provided that each spouse should own a certain share of mutual property and income, constructed to cover only property which was joint or common and not to include the earnings of either spouse from an employment that was not joint or common. 2. The stock of the corporation was purchased by a husband in his own name with money arising from a joint bank account and with the proceeds of bonds, in both of which the wife…
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1. The word "mutual" used in a postnuptial contract which provided that each spouse should own a certain share of mutual property and income, constructed to cover only property which was joint or common and not to include the earnings of either spouse from an employment that was not joint or common. 2. The stock of the corporation was purchased by a husband in his own name with money arising from a joint bank account and with the proceeds of bonds, in both of which the wife had an interest. Held, the wife had a joint equitable interest in the stock.
1Opinion of the Court
*771OPINION.
Marquette:
Shortly after their marriage and on the eve of acquiring the bakery business in McMinnville, Oregon, the petitioner and his wife entered into the contract of June 25, 1909. Respondent contends that this contract related only to the capital invested in and the income derived from this particular business. The petitioner asserts that this contract was in the nature of a marriage settlement which fixed the proportions in which the petitioner and his wife were to own all property acquired by either during the marriage.
The contract contains no provisions which in terms show that…
2Cases cited8 opinions
- Modern Order of Praetorians v. BloomSupreme Court of Oklahoma · 1918
- Symmes v. Union Trust Co.U.S. Circuit Court for the District of Nevada · 1894
- Grubbe v. GrubbeOregon Supreme Court · 1894
- Masonic Ben. Ass'n v. LymanCourt of Appeals for the Seventh Circuit · 1894
- Robison v. WolfIndiana Court of Appeals · 1901
3 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Skewes-Cox v. CommissionerUnited States Board of Tax Appeals · 1933
- Mitchell v. CommissionerUnited States Board of Tax Appeals · 1933