From our private database of 39,700+ case briefs...
Hort v. Commissioner
United States Supreme Court
313 U.S. 28 (1941)
In 1928, Hort (plaintiff) acquired an office building from his father. At the time, Irving Trust Co. (Irving) was renting the first floor of the building. Irving had been renting the first floor in a lease set to expire in 1932. However, in 1927, Irving entered into a new lease with Hort’s father for a fifteen-year term set to begin upon expiration of the original lease, at an annual rental fee of $25,000. In 1933, Irving decided to close its branch in Hort’s building. Hort agreed to cancel the lease in return for a payment of $140,000. Hort did not include the payment as income in 1933. Instead, he reported a loss of $21,494.75, the amount he relinquished by releasing Irving for less than the full value of the lease. The Commissioner (defendant) included the $140,000 in Hort’s gross income for that year and disallowed Hort’s claimed loss. The Board of Tax Appeals and the Court of Appeals affirmed. The United States Supreme Court granted certiorari.
Rule of Law
Holding and Reasoning (Murphy, 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 645,000 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 645,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 39,700 briefs, keyed to 988 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.