...ACC 565 WEEK 5 MIDTERM EXAM To purchase this tutorial visit here: http://mindsblow.us/question_des/ACC565WEEK5MIDTERMEXAM/540 contact us at: help@mindblows.us ACC 565 WEEK 5 MIDTERM EXAM 1) Tax planning is not an integral part of open-fact situations. 2) The Internal Revenue Code of 1986 contains the current version of the tax law. 3) Regulations issued prior to the latest tax legislation dealing with a specific Code section are still effective to the extent they do not conflict with the provisions in the new legislation. 4) Final regulations have almost the same legislative weight as the IRC. 5) A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer. 6) Taxpayers must pay the disputed tax prior to filing a case with the Tax Court. 7) Appeals from the U.S. Tax Court are to the Court of Appeals for the Federal Circuit. 8) Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari. The Supreme Court decides whether or not they will hear the case. 9) A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements) that have cited a particular case. 10) According to the Statements on Standards for Tax Services, CPAs must verify all tax return information submitted by reviewing client documentation. 11) When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced with A) a restricted-fact...
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...Music Copyright & File- Sharing Technology A copyright is a form Intellectual property that grants an author or originator of any tangible literary or artistic work exclusive rights. It is granted by federal statute and includes any literary, musical, dramatic, choreographic, pictorial, graphic, sculptural and architectural works. Also, any motion pictures, sound recording and other audiovisual work. The first U.S. copyright law was the Copyright Act of 1790. It was then modified in 1909 and again 1976. Copyrights still being administrated by the Copyright Act of 1976, which states that the term of protection starts from that date created to the life of the author plus fifty years. The terms automatically got extended for any work created after January 1, 1978, giving statutory copyright protection for the life of the author plus seventy years. In the case of more than one author, it is seventy years after the death of the last living author. A copyright is automatic once the work is made, however it can also be registered with the U.S. Copyright Office in Washington, D.C. A copyright infringement is when the expression of the idea or the work form has been copied without the copyright owner’s approval. It is not limited to the entirety of the work, but if a considerable amount of the original is copied, it is copyright infringement. Only the copyright owner has the right to reproduce, distribute copies, display, or perform the work. Individuals, who commit a copyright...
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...GLOSSARY – BLW 301 Segment 1 Chapter 2 Courts and Alternative Dispute Resolution jurisdiction | The authority of a court to hear and decide a specific action. | in personam jurisdiction | Court jurisdiction over the “person” involved in a legal action; personal jurisdiction | in rem jurisdiction | Court jurisdiction over a defendant’s property. | exclusive jurisdiction | Jurisdiction that exists when a case can be heard only in a particular court or type of court, such as a federal court or a state court | alternative dispute resolution (ADR) | The resolution of disputes in ways other than those involved in the traditional judicial process. Negotiation, mediation, and arbitration are forms of ADR. | arbitration | The settling of a dispute by submitting it to a disinterested third party (other than a court), who renders a decision. The decision may or may not be legally binding | mediation | A method of settling disputes outside of court by using the services of a neutral third party, called a mediator | arbitration clause | A clause in a contract that provides that, in the event of a dispute, the parties will submit the dispute to arbitration rather than litigate the dispute in court. | negotiation | A process in which parties attempt to settle their dispute without going to court, with or without attorneys to represent them. | award | In the context of arbitration, the arbitrator’s decision. | concurrent jurisdiction | Jurisdiction...
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... II. Common Law and Equity ……………………………………………… 5-7 III. Statute Law ……………………………………………………………… 7-8 Conclusion ……………………………………………………………………………… 8-9 Bibliography …………………………………………………………………………….... 10 Introduction According to the statement on p.25 in Antoine’s book, Commonwealth Caribbean Law and Legal Systems, there is no general agreement as to how legal systems should be classified. Some writers emphasize a socialist legal tradition; others are concerned with technical differences while some also place more importance on the sources or origins of the law and its structure and methods. Source The socialist legal tradition has its historical origin in the Bolshevist Revolution of 1917 initiating the international and economic order known as Socialism or communism. The main legal distinguishing feature between socialist tradition and the common law or Romano- Germanic tradition is ideology. The socialist argue that law cannot be isolated from the social political and economic order within which it operates, making these elements fundamentally important in determining the type of legal system in existence. The Socialist legal tradition therefore embodies its original meaning aimed at achieving a communist state Rose-Marie Belle Antoine Commonwealth Caribbean Law and legal system, second edition pg. 45. For the purpose of this paper, the source or origin refers to common law and statute law. Common law here refers to the substantive law and procedural rules...
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...Contributions Solidifying Your Client's Asset Protection Strategy: Multiple Entities in Multiple Jurisdictions by Richard Kahler, CFP®, CCIM, and Richard K. Colman, J.D. Executive Summary * It is important for financial planners to understand the basics of asset protection. Asset protection is a shield against unscrupulous lawsuits—not a way to hide from legitimate obligations. * The history of asset protection through the legal system, including trusts, corporations, and insurance, goes back to ancient times. * Recent U.S. and state statutes have significantly expanded options for asset protection. * The three rules of asset protection are (1) do not own significant assets in your own name, (2) use multiple entities to own your assets, and (3) keep assets and the entities that hold your assets in different or in multiple jurisdictions. * The first line of defense, which is limited, includes statutory protection and insurance. * The second line of defense is owning separate assets through multiple entities, including trusts, corporations, partnerships, limited liability corporations and partnerships, foreign grantor trusts, and domestic asset protection trusts. * The third line of defense is locating those entities in multiple jurisdictions. * A hypothetical client situation is used to illustrate specific methods of applying this knowledge. * In the future, informed planners will be those who understand their professional responsibility to help...
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...I. Statement of Purpose The Copyright Act of 1976 amended the Copyright Act of 1909 and serves as the primary basis of copyright law in the United States[1]. The Act spells out the basic rights of copyright holders, codifies the previously patchwork doctrine of fair use and adopted a unitary term of copyright exclusivity based on the date of the author’s death instead of using a fixed number of years and renewal terms as was previously spelled out in the 1909 Act. The 1909 Act was the last major piece of copyright legislation, and Congress recognized that technology had changed to the point where several pieces of the Act were no longer fit to serve as the basis for interpretation. The 1976 Act was designed to address intellectual property issues raised by new innovations in technology that were previously unforeseen. The Act addresses to the legal practitioners and non-lawyers what kinds of rights they have based on the medium in which they have chosen to communicate an idea as what as what constitutes a copyrightable idea. The sine qua non of copyright is originality, however, the Copyright Act sets the standard for creativity extremely low. Rather than the completely novel ideas protected by the patent laws, copyright laws dictate that an idea only needs a minimal degree of creativity to be protected. The Copyright Act is seen as a compromise between the rights of the publishers and the rights of the authors. The extension protects the rights of the authors with respect...
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...Outline Type of State Greece is a republic based on a parliamentary democracy. Greece (official name: Hellenic Republic) was a monarchy until 1974. Greece is a Constitutional State. However, a certain number of NGOs have communicated their concerns about immigrants and the members of religious minorities in particular. Foreign nationals can, usually, expect a fair trial in legal matters. There is a substantial level of corruption in the country, in particular among the police and in the business sector – corruption in Greece is the most widespread among the member countries of the European Union. Executive Power According to the Constitution, executive power is exercised by the President of the Republic and the Government; after 1986, however, the role of the President in the executive branch is ceremonial. The position of Prime Minister, Greece's head of government, belongs to the current leader of the political party that can obtain the confidence of a plurality in the Parliament. The President of the Republic formally appoints the Prime Minister and, on his recommendation, appoints and dismisses the other members of the Cabinet. The Prime Minister exercises vast political power, and the amendment of 1986 further strengthened his position to the detriment of the President of the Republic. Legislative Power Legislative power is exercised by a 300-member unicameral Parliament. Statutes passed by the Parliament are promulgated by the President of the Republic. Parliamentary elections...
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...AMENDMENT PROCESS OF INDIAN CONSTITUTION The procedure of amendment makes the Constitution of India neither totally rigid nor totally flexible, rather a curious mixture of both. Some provisions can be easily changed and for some others, special procedures are to be followed. Despite the fact that India is a federal state, the proposal for amending the constitution can be initiated only in the House of the Union Legislature and the State Legislatures have no such power. In case of ordinary legislation, if both houses of the Parliament disagree, a joint session is convened. But in case of amendment of bills, unless both the houses agree, it cannot materialize, as in such cases there is no provision for convening the joint session of both the Houses of the Parliament. In fact, there are three methods of amending the Constitution. But Article 368 of the constitution which lays down the procedure for amendment mentions two methods. 1) An amendment of the constitution may be initiated only by the introduction of a Bill for the purpose in either house of Parliament and when a bill is passed in each house. i) By a majority of total membership of that house. ii) By a majority of not less than two-thirds of the members of that house present and voting, it shall be presented to the President who shall give his assent to the Bill and there upon the Constitution shall stand amended in accordance with the term of the Bill. Most of the provisions of the constitution...
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...OSCOLA Oxford Standard for the Citation of Legal Authorities Fourth Edition Faculty of Law, University of Oxford www.law.ox.ac.uk/oscola Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1 General notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 1 .1 Citations and footnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 1 .1 .1 1 .1 .2 1 .1 .3 1 .1 .4 Citing cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Citing legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Citing secondary sources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Order of sources in footnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 1 .2 Subsequent citations, cross-references and Latin ‘gadgets’ . . . . . . . . . . . . .5 1 .2 .1 Subsequent citations . . . . . . . . . . . . . . . . . . . . . . ....
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...Expanding U.S. Trademark Protection for Celebrities Characters and Faces: The Effect on the Paparazzi and Mainstream Media By: Elsie Washington Introduction There is currently no comprehensive legal protection for celebrities‘ characters or faces (i.e. a photo) under United States trademark law. Celebrities have relied on state privacy statutes and/or the federal cause of action of unfair competition, which derives from 15 U.S.C. § 1125(a), known as section 43(a) of the Lanham Act. They have also utilized the right of publicity as a basis for bringing a cause of action against persons or entities that have commercialized and financially benefited from use of their photo or character. Nevertheless, celebrities currently cannot register their...
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...We took time to enjoy the statutes: an athlete that is found collapsed, face-down, still poetically gripping the ever-burning torch; a widow and her two young children, the youngest a baby still gripped at her chest, surrounding the bust of the late husband and father; an eagle with its wings out spread; and so, so many children. There were tombs so brightly colored in the same white, pink and green marbles of the church’s façade, they looked like gingerbread houses. It did take some effort, but we eventually did find the tomb of Carlo Lorenzo, pen name Carlo Collodi. The author, who borrowed his last name from the Tuscan city his mother was from, most notably wrote the children's fanciful cautionary tale, Pinocchio. It was time to take another group selfie. Initially, we were thrilled to have a day of respite, and a chance to see a little of the city, but the day brought us so much more: legends and art, wars and family secrets, a little bit of cardio rewarded with breathtaking views, hidden gems, and a few accidental adventures. We lived all the makings...
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...gospel of Jesus Christ to the far corners of the Greco-Roman world” (King Paragraph 3). Here King is paralleling his actions to the Apostle’s actions. By king alluding to the Apostles he appeals to the audience ethically. Rhetorical questions are also used in the letter to appeal to ethos. “Now, what is the difference between the two” (Paragraph 16)? King uses rhetorical questions to make the audience think about what he is asking them. Along with rhetorical questions, King uses syllogism, where he constructs a conclusion from statements he stated earlier in the letter. The syllogism in paragraph sixteen, King states, “Any law that uplifts human personality is just. Any law that degrades human personality is unjust. All segregation statutes are unjust because segregation distorts the soul and damages the personality.” As he states what A and B are, the conclusion, X, is therefore drawn. By appealing to ethos, King helps convey his message. King gains his credibility by saying he follows just laws but breaks unjust laws. "Of course, there is nothing new about this kind of civil...
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...Business Entity Matrix Blake M. Reimert LAW/531 Beverly Spencer October 1, 2012 Business Entity Matrix |BUSINESS |Formation |Control |Liability |Continuity |Taxation | |Entity | | | | | | |Partnership | A general partnership | Partners | Tort liability: | the usual rule is that| Partnership does not | | |is a business entity in | |Partnership is liable |the death or withdrawal|pay federal income | | |which two or more | |for tortuous act of a |of one of the members |taxes, partnership | | |co-owners engage in | |partner, employee, or |dissolves the |files information | | |business. The partners | |agent committed while |partnership, although |return, income losses | | |own the business assets | |the person is acting |an appropriate |reported on individual | | |together. Unless a | |within the ordinary |agreement in the |partners’ personal | | |partnership agreement | ...
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...white person's restaurant they would kick them out or if they don't want to leave the police would come. Rosa parks was angry of the laws because, they were not good like they kept white people and colored persons away from each other also why did they do that maybe because they thought that's how it's supposed to be. Know Rosa Parks changed the history so now we can all be together also because of (Martin Luther King Jr.) Jim Crow Laws were statutes and ordinances established between 1874 and 1975 to separate the white and black races in the American South. In theory, it was to create "(separate but equal)" treatment, but in practice Jim Crow Laws condemned black citizens to inferior treatment and facilities. Education was segregated as being public facilities such as hotels and restaurants under Jim Crow Laws. In fact, the United States military was segregated until integrated by Harry S. Truman after World War II. The term "(Jim Crow)" originally referred to a black character in an old song, and was the name of a popular dance in the 1820s. Around 1828, Thomas "Daddy" Rice developed a routine in which he blacked his face, dressed in old clothes, and sang and danced in imitation of an old and decrepit black man. Rice published the words to the song, "Jump, Jim Crow," in...
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...of financing a real estate purchase. This chapter introduces you to the nature and purpose of the mortgage. One purpose of this chapter is to acquaint you with the basic vocabulary of mortgage financing. It also discusses: 1. The legal repercussions of a mortgagor's default and the many different types of mortgage loans. 2. The application of the mortgage in financing the purchase of real estate. 3. The rights and duties of the parties 4. The relationship between mortgages and other liens. 5. The options often available to buyers and sellers when mortgaged real property is sold. Mortgage--a written instrument that uses real property to secure payment of a debt. Deed of Trust--a 3-party written instrument created by statute as follows: 1. Borrower- known in a deed of trust as the grantor 2. Trustee – neutral third party who holds title in trust as long as the debt is unpaid 3. Lender – known in the deed of trust as the beneficiary There are significant differences between a mortgage and a deed of trust. Primarily in how they are foreclosed once the loan is in default.. Mortgages, for the most part, are a thing of the past and have been replaced by modern deed of trust. Following are a few terms with which you should be acquainted: 1. Acceleration Clause—a clause that makes the entire debt payable in event of default. 2. Equity of Redemption--the right of the mortgagor or another person with an interest in the property to reclaim...
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