Examlex
Once an activity has been classified as passive,it is considered passive with regard to that taxpayer until it is sold.
Specific Performance
A legal remedy in contracts where a court requires a party to perform their specific duties under the contract, rather than pay damages for not fulfilling the contract.
Personal Services
Services performed by an individual, often requiring specialized skills or knowledge, such as consulting, healthcare, or personalized instruction.
Madison Square Garden
A famous multi-purpose indoor arena located in New York City, known for hosting sports events, concerts, and other entertainment activities.
Breach of Contract
The violation of any agreed-upon terms and conditions in a binding contract without lawful excuse.
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