Allstate Insurance v. Mercier

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that sham transaction has been defined as a transaction that \has no business purpose or economic effect other than the creation of tax deductions\ and holding that taxpayer was not entitled \to claim 'losses' when none in fact were sustained\

Source: CourtListener parenthetical corpus (CC0).