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agents relied to their detriment on Costello’s manifestation of
authority to act as TMP on behalf of Cascade. The other 19
partners of Cascade were aware that Costello held himself out as
Cascade’s TMP.
Discussion
Rule 121(b) provides that a motion for summary judgment
shall be allowed and considered if the pleadings and admissions
show that there is no genuine issue of material fact and that a
decision may be rendered as a matter of law. Sundstrand Corp. v.
Commissioner, 98 T.C. 518, 520 (1992), affd. 17 F.3d 965 (7th
Cir. 1994); Zaentz v. Commissioner, 90 T.C. 753, 754 (1988);
Naftel v. Commissioner, 85 T.C. 527, 529 (1985). The moving
party bears the burden of proving that there is no genuine issue
of material fact, and factual inferences will be read in a manner
most favorable to the party opposing summary judgment. Dahlstrom
v. Commissioner, 85 T.C. 812, 821 (1985); Marshall v.
Commissioner, 85 T.C. 267, 271 (1985). The facts are viewed in a
light most favorable to the nonmoving party. Jacklin v.
Commissioner, 79 T.C. 340, 344 (1982). In this case both parties
moved for summary judgment based on documents and affidavits.
There is no genuine issue of material fact as between the
parties, and this matter is ripe for resolution by means of
summary judgment.
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