Thumbnail Image
Publication

Income from the Discharge of Indebtedness: The Progeny of United States v. Kirby Lumber Co.

Bittker, Boris
; 
Thompson, Barton
Keywords
Collections
Faculty Scholarship Series
Show all metadata
Files
Thumbnail Image
Income_from_the_Discharge_of_Indebtedness__The_Progeny_of_United_States_v_Kirby_Lumber_Co__with_Thompson_.pdf
Adobe PDF, 621.06 KB
Abstract
The Kirby Lumber case established the general rule that the cancellation of indebtedness by a creditor for less than the amount owed results in income to the debtor. This Article discusses the rationalef or that holding and shows that many of the judicial exceptions to the Kirby Lumber rule are based on erroneous interpretations of that case.
URI
http://hdl.handle.net/20.500.13051/1599