Ruling Court Decision

The appellants view the “substance” of the transaction is over the “form”. Generally, taxpayers are bound by the form of their transaction and may not argue the substance triggers different tax consequences. The Tax Court found the form and substance of the transaction was a loan from the bank to VAFLA and not to the appellants. The proceeds were to be used in the operation of the business and petitioners were not free to dispose the loan. Nor were the payments reported as constructive dividends.

Background: Taxpayers brought action against government for a refund of penalties and interest totaling $89,736 imposed for late filing and payment of taxes. Government moved for summary judgment. Holdings: The District Court, Saylor, J., held that:

Shareholders were led to believe that CA was more profitable than it was, and consequently suffered enormous losses. They had either paid more than they should have for the stock, or held on to it when, if they had known the truth, they would have sold it. 12 This extra compensation was at the expense of shareholders. 13 Richards’ actions would be considered unethical under the utilitarianism position, as his actions harms others, and under deontological positions, as he did not follow rules. In this sense, Richards’ actions would be regarded as much more serious under a deontological position, than under a teleological-parochialism position. 14 Accounting flexibility, or financial reporting choice, may also

The current Supreme Court membership is comprised of nine Supreme Court Justices. One of which is the Chief Justice and the other eight are the Associate Justices. The Justices are Chief Justice John Roberts, Jr., and Associate Justices: John Paul Stevens, Antonin Scalia, Anthony Kennedy, David H. Souter, Clarence Thomas, Ruth Bader Ginsburg, Stephen G. Breyer and Samuel Anthony Alito, Jr.

The Federal Court System is one of the most essential and significant functions to help settle a matter. Much work is involved in the application of a body of rules and principals of rulings. The path the Federal Courts have to take in order to be heard by the Supreme Court is a lengthy process. Given millions of disputes every year, it becomes impossible for the Federal Courts to be heard by the Supreme Court. The Supreme Court has jurisdictions that limit the variety of cases that are clearly defined in the Constitution. The Supreme Court has developed specific rules that within the jurisdictions will and will not hear. The Federal Court must show they have extreme and substantial evidence in the outcome of the case. In mootness, the Federal

Also commonly referred to as The Steel Seizure Case, it was a United States Supreme Court decision that limited the power of the President of the United States to seize private property in the absence of either specifically enumerated authority under Article Two of the US Constitution or statutory authority conferred on him by Congress. The Majority decision was that the President had no power to act except in those cases expressly or implicitly authorized by the Constitution or an act of Congress.

#2) Describe the role the Supreme Court plays in the policymaking process. Compare and contrast Judicial Activism and Judicial Restraint. Explain 5 Amendments in the Bill of Rights. How does a society balance possible contradictions and inconsistencies with respect to national security, and the rights of the individual? Discuss some of the conflicts, issues and problems that arose during the Civil Right 's movement in the 1950 's and 1960 's, as well as current Civil Rights issues.

Because the court had determined that the repayment can be claimed under section 1341 in Van Cleave v. U.S., and the IRS had taken a similar position in Rev. 69-115 1969-1 C.B. 50. Dan and Patrick can claim the repayments to Osprey Corporation as either a credit under Section 1341 or a deduction under section 162(a).

The two basic types of courts in the United States are trial courts and appellate courts. These two types of courts have two entirely different functions. The job of a trial courts is to determine questions of fact. Appeals courts, on the other hand, must determine questions of law. Appellate courts have the right to overrule jury verdicts and judges decisions due to the fact that an appellate court typically concerns itself solely with issues of law. An appeal is not the time to retry the case or to reargue the facts. In civil matters, either party can appeal the decision of the trial court. Usually in criminal matters, however, only the defendant may appeal a criminal conviction and the state is not

Like several companies, Nortel stipendiary their executives with stock choices (Collins, 2011). This compensation solely inspired the tendency to be but honest regarding the company’s finances. author closely-held stock choices that solely inspired his actions to fulfill or beat the benchmark set by analysts. If Nortel’s earnings showed to be higher than the benchmark, Nortel’s stock costs would rise creating the stock closely-held by management to be even a lot of valuable. By tweaking the books to indicate the road earnings price as critical the allowable accumulation price he created the stakeholders assume that the corporate was creating extra money than it had been. “Nortel ne'er incomprehensible a benchmark over the sixteen quarters (Collins, 2011).” it had been too tempting to bump the numbers up so the stocks gave the impression to be value over they were. “Nortel’s accounting practices junction rectifier to AN investigation by AN freelance review committee, that found that insubordination with accumulation and accounting fraud were undertaken to fulfill internally obligatory earnings targets (Collins, 2011).”

The appellate court typically requires the aggrieved defendant to file a notice of appeal within a set period of time following the entry of the verdict (Ingram, 2009). If the defendant does not file their appeal, then a higher court may not consider their case. After an appeal is filed the defense attorney must then conduct research that has to do with the disputed areas of the law within a particular case. This research is then put into a legal brief which is then presented to the appellate court, as well as the prosecution (Ingram, 2009). The prosecution then does the same and presents their research to the court. At times the defense and prosecution may provide legal briefings consisting of legal research which they then give to the courts and can decide to leave the final decision up to the court.

In 1789, the final draft of the constitution of the United States came into effect. In article three it calls for "[t]he judicial Power of the United States, shall be vested in one Supreme Court, and in such inferior Courts as the Congress may from time to time ordain and establish." In the article it neither says the duties, powers, or any organization of the supreme court. If left this up to congress and to the justices of the court itself for these details.

“...a Supreme court justice must interpret the laws without fear or favor.”(Amy Klobuchar). Supreme court nominees have been appointed by the president of the United States since Washington’s presidency. These all have been successful nominations but there has been some decisions about having the people to nominate the court justices this time. The president should still be the one to nominate Supreme Court Justices because the Constitution directly states the amendment, common people do not know what to look for in a Supreme Court Justice, and to prevent the abuse of power between the branches of government.

It was reasonable for a CEO’s compensation to increase as the company expanded and became a larger entity, and the newly-granted shares and increasing stock options further aligned the CEO’s personal interests with those of the company and shareholders. In this sense, the second compensation package was also well-structured and not excessive. Seeing Sunbeam’s revenue rising and stock price climbing steeply upwards, Sunbeam’s shareholders and directors were fully convinced by Dunlap’s leadership, so they might perceive the increase in compensation amount necessary to retain and better motivate Dunlap to enhance the company’s value. Nonetheless, they neglected the fact that the increased portion of the equity-based compensation also further motivated the CEO’s dangerous behaviors pertaining to improper earnings management.

Executive compensation keeps a highly controversial for recent years, with more credit crisis appears in companies, the action of shareholders’ vote on directors payment get more acception. The new reform act 2013 in the UK gives firm’ owners more power and influence to shape managers’ pay. In fact, this act is not only popular in the uk, also sprung up in other European countries, Australia and USA. In this essay, I will focus on discussing the relation between UK shareholder voting and executive pay. As for shareholders have a binding vote on executive compensation, I think the negative effects overweigh the positive ones. In the following paragraphs, I am gong to describe the benefits and harms.