Amdahl Corporation and Consolidated Subsidiaries - Page 18

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          between petitioner and the RSC.  The contractual terms defining             
          the relationship between petitioner and the RSC coupled with                
          petitioner's reimbursement of RSC expenses does not provide a               
          sufficient basis to find that the RSC was an agent of petitioner            
          for the purpose of acquiring real property.  If the RSC was an              
          agent, it would be the agent of relocating employees because the            
          RSC had authority to transfer ownership to third-parties by                 
          filling in the names of grantees on the deeds in blank.  There is           
          no legal basis to find that, in substance, the RSC acted as                 
          petitioner's agent.  Even if we found the RSC to be petitioner's            
          agent, there would be no enforceable way for petitioner to                  
          control the agency relationship without a writing that satisfies            
          the Statute of Frauds.  A determination that the RSC was                    
          petitioner's agent would be substance without reality.  However,            
          we find that the RSC did not acquire beneficial ownership of the            
          residences, and we do not need to rely on the lack of an agency             
          relationship between petitioner and the RSC in our decision that            
          petitioner is not the owner of the residences.                              
               Nothing in the record indicates that the parties treated the           
          transaction as a sale between the RSC and relocating employees.             
          Petitioner purposefully structured the financial assistance it              
          provided to relocating employees in the sale of their homes to              
          avoid taking legal title to the residences.  The parties did not            
          intend to transfer ownership of the residences through the                  
          contracts of sale.  In addition, there is no evidence that                  

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