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For the reasons stated, AVA has failed to prove that AMCOR
was admitted to the partnership as a general partner on or before
February 1, 1985. The fact that the partnership may have filed
its tax return for 1985 consistent with AMCOR’s being a partner
for the whole year is not determinative; we assume that the
return was prepared after the close of 1985.
e. AVA’s Other Arguments
(1) Stipulation
AVA argues that, by way of stipulation, respondent has
admitted that AMCOR was a general partner in the partnership
throughout 1985. AVA relies on a stipulation of facts filed
January 14, 1992, in furtherance of a motion for summary judgment
made in a prior consolidation of certain AMCOR test cases. The
following language is contained in that stipulation of facts:
Fred Behrens, George Schreiber, and Robert Wright
remained as general partners in the partnerships
[including AVA] * * * throughout 1985. American Agri-
Corp. was also a general partner throughout 1985. As
stated in the Preamble of this Stipulation, this fact
is stipulated to only for purposes of disposition of
Respondent’s motion for partial summary judgment in the
above-referenced cases. [Emphasis added.]
A stipulation is in the nature of a contract and will bind
parties only to the terms actually agreed upon. See Rule 91(e);
e.g., Stamos v. Commissioner, 87 T.C. 1451, 1455 (1986). As
such, the stipulation on which AVA relies as an admission is
without effect because, by its terms, its effectiveness was
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