- 16 -
continuing their protest, they had instead cashed the check, then
an accord and satisfaction would have been created.
Under the circumstances of this case, there was substantial
reason for petitioners to believe that an accord and satisfaction
would have been created under California law if they had cashed
the check here in question in 1999. The realistic possibility of
an accord and satisfaction constituted a substantial limitation
or restriction on the receipt of the proceeds. Therefore,
petitioners were not in constructive receipt of the proceeds in
1999.
Reviewed and adopted as the report of the Small Tax Case
Division.
To reflect petitioners’ concession,
Decision will be entered
under Rule 155.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Last modified: May 25, 2011