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An account of profits (sometimes referred to as an accounting for profits or simply an accounting) is a type of equitable remedy most commonly used in cases of breach of fiduciary duty. [1] It is an action taken against a defendant to recover the profits taken as a result of the breach of duty, in order to prevent unjust enrichment .
See footnote 1 of the opinion: "The word 'accrue' is an accounting term that means to record or calculate an item of income or expense that has not yet been paid." United States: U.S. Court of Appeals for the Seventh Circuit: 2007-04-05 Crawford v. Marion County Election Bd. 484 F.3d 436
United States v. Bestfoods, 524 U.S. 51 (1998), is a United States corporate law and environmental law case in which the Supreme Court of the United States held that the indirect liability of a parent corporation under CERCLA is to be determined by its control over a subsidiary's facility, rather than the relationship between the corporation and subsidiary.
With this number of original jurisdiction courts involved in making legal determinations on federal tax matters and thirteen United States courts of appeals exercising appellate jurisdiction, observers recognize and are concerned that the tax laws can be interpreted differently for like cases. As examples, Supreme Court decisions in the well ...
In modern practice, they are most commonly used in summary decisions that the Court resolves without full argument and briefing. [4] The designation is stated at the beginning of the opinion. Single-line per curiam decisions are also issued without concurrence or dissent by a hung Supreme Court (a 4–4 decision), when the Court has a vacant seat.
A unanimous opinion is one in which all of the justices agree and offer one rationale for their decision. A majority opinion is a judicial opinion agreed to by more than half of the members of a court. A majority opinion sets forth the decision of the court and an explanation of the rationale behind the court's decision.
Schlude v. Commissioner, 372 U.S. 128 (1963), is a decision by the United States Supreme Court in which the Court held that, under the accrual method, taxpayers must include as income in a particular year advance payments by way of cash, negotiable notes, and contract installments falling due but remaining unpaid during that year. [1]
According to stare decisis, all lower courts should make decisions consistent with the previous decisions of higher courts. [3] For example, in England, the High Court and the Court of Appeals are each bound by their own previous decisions, however, since 1966 the Supreme Court of the United Kingdom can deviate from its earlier decisions ...