HIGH COURT OF JUSTICE (CHANCERY DIVISION)–

13TH, 14TH, 15TH AND 27TH JULY 1964, 9TH MARCH 1966 AND 4TH AND 5TH JULY 1967

Income tax, Schedule D – Profits of trade – Company formed to exploit actor’s services – Sum received on termination of contract with film-producer – Whether a trading receipt.

  Contract – Parol negotiations followed by formal agreement – Date when binding agreement concluded.