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Does A Corporation Realize Gain Or Loss On A Liquidating Distribution In Kind?, Charles S. Cork
Does A Corporation Realize Gain Or Loss On A Liquidating Distribution In Kind?, Charles S. Cork
Mercer Law Review
In view of the thousands of corporations which have been liquidated over the last three decades, it is surprising that there should have been so little judicial consideration and analysis of whether a corporation realizes gain or loss recognizable for Federal income tax purposes on the distribution of its property in partial or complete liquidation.
Promoters' Ability To Share Profits Of Successful Corporate Ventures, Alvin Gilmore
Promoters' Ability To Share Profits Of Successful Corporate Ventures, Alvin Gilmore
Mercer Law Review
Promoters' frequently experience difficulty in obtaining a proper reward for their initiative in organizing a corporation. This difficulty arises from two well-established principles of corporation law. The first of these rules is that a promoter stands in a fiduciary relation to the corporation, charged with a duty to exercise the utmost good faith, as in cases of other trusts, so that he cannot lawfully make secret profits' in transactions relating to the promotion or organization of the corporation, and must account to the corporation for such profits if made.3 The second rule is that the promoter cannot lawfully receive compensation …