Sherman Minton

“ It is unrealistic to treat an extraordinary sale for one consideration of real property, part of which is immature green fruit, which sale will put the seller completely out of business, as an ordinary sale in the course of trade or business, when the business being closed out had been one that dealt only in the sale of matured fruit. ”

“ However, real property is not defined in the Revenue Act, and in the absence of such definition we must look to the law of California to determine what is real property. Under that law, this crop of oranges passed as real estate. ”