(DOWNLOAD) "Gransden v. Commissioner of Internal Revenue" by United States Court Of Appeals For The Sixth Circuit * Book PDF Kindle ePub Free

eBook details

Title: Gransden v. Commissioner of Internal Revenue
Author : United States Court Of Appeals For The Sixth Circuit
Release Date : January 08, 1941
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 65 KB

Description

In each case the petitioning taxpayer was the vendee of real estate in Michigan under a land contract calling for a down payment on the purchase price with the balance payable over a term of years in installments. Title to the real estate in each case, remained in the vendors, and the contracts provided that if the vendee failed to perform, the vendor had the right, immediately after default, to declare the contract void, retain whatever might have been paid thereon, and be entitled to immediate possession of the premises. In each case there was default, and each taxpayer surrendered the land contract and made a payment to the vendor in consideration of being relieved of any further obligation thereunder.