business trusts
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 296 U.S. 344 - Morrissey v. Commissioner · 1935Most cited · 1,031 citing opinions
In what are called 'business trusts' the object is not to hold and conserve particular property, with incidental powers, as in the traditional type of trusts, but to provide a medium for the conduct of a business and sharing its gains.