Legal Definition of Main Pot
— called also Big Pot, Hodge Podge, hotchpot— compare casualty pot
Note: The transactions netted in the Main Pot are as follows: casualties in the Casualty Pot if they have netted a gain; sales, exchanges, or condemnations of depreciable or real property used in a business for more than one year; and condemnations of capital assets held for more than one year in connection with a trade or business or transaction entered into for profit. If the net result is a gain, then the transactions are treated as long-term capital gains and losses.
- On Contractions of Multiple Words
- A Look at Uncommon Onomatopoeia
- Is Singular 'They' a Better Choice?