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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 .
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.
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
As examples, Supreme Court decisions in the well-known cases of Kowalski (whether state policemen could exclude meal reimbursements from gross income) and Dalm (whether a taxpayer could get a refund for overpaid gift taxes otherwise time-barred, when the delay was caused in resolving income tax deficiencies) show the Supreme Court resolving ...
An appellate court may also decide on an entirely new and different analysis from that of junior courts, and may or may not be bound by its own previous decisions, or in any case, may distinguish them on the facts. [5] [6] Where there are several members of a court deciding a case, there may be one or more judgments given (or reported).
In the United States, there is much scholarly legal debate between those favoring bright-line rules and those favoring balancing tests.While some legal scholars, such as former Supreme Court Justice Antonin Scalia, have expressed a strong preference for bright-line rules, critics often argue that bright-line rules are overly simplistic and can lead to harsh and unjust results.
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]
United States Reports, the official reporter of the Supreme Court of the United States. Case citation is a system used by legal professionals to identify past court case decisions, either in series of books called reporters or law reports, or in a neutral style that identifies a decision regardless of where it is reported.