Kimco Leasing, Inc. v. State Board of Tax Commissioners

How courts have described this case

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

• holding that court cannot make a finding of nominality “[without some concrete information regarding the anticipated fair market value of the leased equipment at the time the purchase option is to be exercised” (emphasis added)
• “If, however, the lessor cannot reasonably expect to receive back anything of value at the end of the lease, then the lease creates a security interest.”
• “Without information regarding the fair market value of the leased equipment at the time the purchase option is to be exercised (as anticipated by the parties when the lease was signed
• when a statutory word is not defined in the act of which it is a part, the court may look to other acts to see how the word is defined
• twenty-five percent option price was nominal

Source: CourtListener parenthetical corpus (CC0).