- 10 - T.C. 656 (1988); Anderson v. Commissioner, 83 T.C. 898 (1984), affd. without published opinion 846 F.2d 76 (10th Cir. 1988); Sennett v. Commissioner, 69 T.C. 694 (1978). To some extent, the test case process depends upon the parties’ agreement to be bound by the outcome in the test case. A settlement stipulation, including a stipulation to be bound, is “in all essential characteristics a mutual contract" that is "entitled to all of the sanctity of any other contract.” Saigh v. Commissioner, 26 T.C. 171, 177 (1956); see Fisher v. Commissioner, T.C. Memo. 1994-434; Estate of Satin v. Commissioner, T.C. Memo. 1994-435. In this regard, general principles of contract law are applied in construing such agreements. Robbins Tire & Rubber Co. v. Commissioner, 52 T.C. 420, 435-436 (1969); Fisher v. Commissioner, supra; Estate of Satin v. Commissioner, supra. Generally, we look within the “four corners” of the agreement to ascertain the intent of the parties. Rink v. Commissioner, 100 T.C. 319, 325 (1993), affd. 47 F.3d 168 (6th Cir. 1995). Where an agreement is ambiguous, the Court may look to extrinsic evidence to determine the parties’ intentions. Woods v. Commissioner, 92 T.C. 776 (1989). As discussed above, the El Charro I opinion of the Tax Court holds that, under section 168(f)(1), El Charro was not entitled to use the income forecast method for the type of property in service. The parties agreed to be bound in this casePage: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011