wasting assets
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 310 U.S. 404 - Anderson v. Helvering · 1940Most cited · 672 citing opinions
Oil and gas reserves like other minerals in place, are recognized as wasting assets. The production of oil and gas, like the mining of ore, is treated as an income-producing operation, not as a conversion of capital investment as upon a sale, and is said to resemble a manufacturing business carried on by the use of the soil.
How often courts cite the case defining “wasting assets”
Court decisions citing the opinion that defined “wasting assets” — 672 in all, by decade. Counts are citations to the defining case as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.