The Hub, Inc. v. Commissioner
United States Board of Tax Appeals
1. Value of leasehold determined. 2. An oral assignment of a leasehold interest in real estate is voidable, and not void, and where the parties have recognized the assignment as valid, it can not be attacked by a third party.
1Opinion of the Court
*1260OPINION.
Phillips:
Both parties appear to concede the fact that the lease acquired by Sonneborn in 1912 was acquired by him in his individual capacity and not as a representative of the corporation of which he was president. Prior to that time the taxpayer had been his tenant, and there is nothing that would justify us in reaching any conclusion other than that this lease was taken by Sonneborn individually. The testimony is to the effect that Fridenberg declined to make the lease with the corporation, desiring to have the personal responsibility- of Sonneborn. The two questions presented are'…
2Cited by3 opinions
- Bleichroeder, Bing & Co. v. CommissionerUnited States Tax Court · 1953
- Independent Aetna Sprinkler Co. v. CommissionerUnited States Board of Tax Appeals · 1929
- The Hub, Inc. v. CommissionerUnited States Board of Tax Appeals · 1926