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Full-Text Articles in Law
Tort Claims As Intangible Property: An Exploration From An Assignee's Perspective, Harold R. Weinberg
Tort Claims As Intangible Property: An Exploration From An Assignee's Perspective, Harold R. Weinberg
Law Faculty Scholarly Articles
Dean Prosser has pointed out that a major function of the law of torts is to allocate losses arising in the course of human activity by placing the burden of the loss on the party at fault. Tort causes of action are both diverse and plentiful in our society, and few persons can avoid being a tort victim at one time or another. Prior to suit, the injured party becomes the “owner” of a tort cause of action. Even though “ownership’’ is involved, it may seem awkward to classify a tort cause of action as personal property. This difficulty is …
Recent Developments In Gift And Estate Taxation, Douglas A. Kahn
Recent Developments In Gift And Estate Taxation, Douglas A. Kahn
Other Publications
A summarization of recent tax cases.
Transactions Subject To Gift Tax, Douglas A. Kahn, Earl M. Colson
Transactions Subject To Gift Tax, Douglas A. Kahn, Earl M. Colson
Articles
The gift tax is imposed on the "transfer of property by gift." The term gift is not expressly defined either in the Code or in the Treasury Regulations. However, section 2512(b), dealing with the valuation of gifts, states that "where property is transferred for less than an adequate and full consideration in money or money's worth," the difference between the value of the property transferred and the consideration received constitutes a gift. Thus, for gift tax purposes, the determination of whether a gift was made does not turn so much on the intent of the transferor as it does on …