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continuing obligation

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 310 U.S. 80 - Helvering v. Leonard · 1940Most cited · 141 citing opinions

The existence of wholly contingent obligations, whether contractual or otherwise, is adequate to support the results reached in Douglas v. Willcuts, supra. For in that case it was manifest that at the time of the creation and approval of the trust the divorce court might never exercise its reserved power to revise or alter the decree and the husband might never have to make good on his promise to make up deficiencies in the estimated trust income.