The First Codification of the Tax Law Occurred in 1954

question 67

True/False

The first codification of the tax law occurred in 1954.

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Definitions:

CISG

The United Nations Convention on Contracts for the International Sale of Goods, governing the sale of goods between parties from different countries.

Restatement Second

A collection of treatises on U.S. law aimed at summarizing, clarifying, and perhaps modernizing the law, with "Second" indicating a second edition of a subject area.

Unilateral Contract

A contract agreement in which one party makes a promise in exchange for an act by another party, binding only after the act is completed.

Revocation

The official cancellation or withdrawal of an offer, license, or agreement.