From our private database of 28,500+ case briefs...
Corn Products Refining Co. v. Commissioner
United States Supreme Court
350 U.S. 46 (1955)
Corn Products Refining Company (Corn Products) (plaintiff), a manufacturer of corn products, bought and sold corn-futures commodity contracts in order to ensure that Corn Products had an adequate supply of corn at economical prices. On its corn-futures contracts, Corn Products netted a profit in 1940, followed by a loss in 1942. Corn Products asserted that its gains and losses in corn futures should have been treated as arising from the sale of capital assets. Corn Products claimed that its futures-buying program was an investment program separate from its manufacturing business. The federal tax commissioner (commissioner) (defendant) determined a deficiency in Corn Products’ taxes. Corn Products petitioned the United States Tax Court for a redetermination. The tax court entered judgment in favor of the commissioner, holding that the corn futures did not arise from the sale of capital assets. The court of appeals affirmed. The United States Supreme Court granted certiorari.
Rule of Law
Holding and Reasoning (Clark, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 545,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 545,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 28,500 briefs, keyed to 983 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.