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2704(b), restrictions on the right to liquidate certain limited
partnership interests in Harper Financial Co., L.P., should be
disregarded to the extent that such restrictions are more
restrictive than the default provisions of California law.
Summary judgment may be granted if the pleadings and other
materials demonstrate that no genuine issue exists as to any
material fact and that a decision may be entered as a matter of
law. See Rule 121(b); Sundstrand Corp. v. Commissioner, 98 T.C.
518, 520 (1992), affd. 17 F.3d 965 (7th Cir. 1994). Partial
summary judgment may be granted with regard to a single issue if
the conditions for summary judgment are otherwise satisfied,
notwithstanding that all of the issues in the case are not
concluded. See Rule 121(b); U.S. Bancorp v. Commissioner, 111
T.C. 231, 236 (1998). The record shows and the parties do not
dispute that there is no genuine issue as to any material fact
with respect to the issue presented by respondent's motion for
partial summary judgment. Accordingly, we may render judgment on
the issue as a matter of law. See Rule 121(b).
For the purpose of ruling on the instant motion only, we
adopt the following facts set forth in the parties' moving
papers. On December 18, 1990, Morton Harper (decedent) created a
revocable inter vivos trust (trust). The trust instrument named
1(...continued)
issue, and all Rule references are to the Tax Court Rules of
Practice and Procedure.
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