Sham transaction
A transaction that is unlawful or illusory. Illusory transactions that exist on paper but have no tangible consequences may be voided in court, especially if used as a tax shelter or other deceptive device.
A transaction that is unlawful or illusory. Illusory transactions that exist on paper but have no tangible consequences may be voided in court, especially if used as a tax shelter or other deceptive device.