Mountain State Steel Foundries, Inc. v. Commissioner’s Empirical Analysis
284 F.2d 737 · 1960
Citation profile
11 federal appellate · 4 district · 3 state decisions
How this case has been cited
Cited by 48 later decisions — most recently March 2003 · most notably Ramey v. Cincinnati Enquirer, Inc. (1974), Faber Cement Block Co. v. Commissioner (1968)
11 federal appellate · 4 district · 3 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Relies on Pelton Steel Casting Co. v. Commissioner · Topken, Loring & Schwartz, Inc. v. Schwartz · Randall v. Bailey · In re Fechheimer Fisher Co. · Richards v. Ernst Wiener Co.
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 48 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
““* * * When a corporation purchases a portion of its outstanding stock with an agreement to pay for it at a subsequent time, it may not perform its promise if the use of its funds in performance will impair its capital. This is true though earlier performance at the time of consummation of the executory agreement would have occasioned no impairment of - the capital: “The promise, therefore, is conditional. The corporation’s promise is to pay provided at the time of payment it has sufficient surplus that disbursement of the funds will occasion no impairment of capital. In effect, the statute is read into the agreement.” [Footnotes omitted.]”
9 later decisions quote this exact passage“(2) Every corporation organized hereunder shall have the power to purchase, hold, sell and transfer shares of its own capital stock: Provided, That no such corporation shall use its funds or property for the purchase of its own shares of capital stock when such use would cause any impairment of the capital stock of the corporation.”
1 later decision quote this exact passage · from the majority
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.