...PARTNERSHIP AND SUBCHAPTER S TAX OUTLINE SPRING 2009 VICE PRESIDENT, ASSOCIATE DEAN, AND PROFESSOR BRUCE A. MCGOVERN Stephen A. Lind et al, Fundamentals of Partnership Taxation: Cases and Materials (8th ed. 2008) Selected Federal Taxation Statutes and Regulations (Daniel J. Lathrope ed., 2009 ed. 2008) Laura E. Cunningham & Noël B. Cunningham, The Logic of Subchapter K: A Conceptual Guide to the Taxation of Partnerships (3d ed. 2006) PART 1: AN OVERVIEW OF THE TAXATION OF PARTNERSHIPS AND PARTNERS 3 I. Introduction to Subchapter K 3 II. Tax Classification of Business Enterprises 3 a. In General 3 b. Corporations and Partnerships 3 i. “Check-the-Box” Regulations 3 ii. Existence of a Separate Entity for Federal Tax Purposes 4 iii. Publicly Traded Partnerships 6 c. Trusts 6 d. Tax Policy Considerations 6 III. Introduction to Choice of Business Entity 7 PART 2: FORMATION OF A PARTNERSHIP 8 I. Contributions of Property 8 a. General Rules 8 b. Introduction to Partnership Accounting 11 II. Treatment of Liabilities: The Basics 15 a. Impact of Liabilities on Partner’s Outside Basis 15 b. Contributions of Encumbered Property 16 III. Contributions of Services 23 a. Introduction 23 b. Receipt of Capital Interest for Services 24 c. Receipt of a Profits Interest for Services 30 i. Current Law 30 ii. Proposed Regulations 31 IV. Organization and Syndication Expenses 32 PART 3: OPERATIONS...
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...C&C Beauty Salon Employee Handbook C&C Beauty Salon Employee Handbook The C&C Beauty Salon (C&C) Employee Handbook is merely a tool to provide basic information about your position / career while you are employeed with the salon. The below contents are to be considered as only guidelines, and is not by any means to be considered a contract of employment with C&C. The organization reserves all rights to reconsider, interpret, change, revoke, or suspend any or all of the policies and/or benefits what are described in this handbook. C&C is a at-will employer and may terminate employment at any time, without reason, with or without prior notice. This handbook will replace and supersede any and all prior policies, practices and understandings. C&C will only have non-disclosure documents that are confidential agreements and that are signed during your employement. Equal Employment Opportunity Policy C&C is commited and please to offer equal employement opportunities to all that apply and to all current employees. C&C will comply to all applicable equal opportunity laws, affirmative action laws and any other laws that are applicable to equality opportunities to employees. All State, Federal, and Local governing laws will be strictly upheld and under no circumstances will the organization willing or knowing commit to such acts. All will have equal opportunity for employment, promotion on all levels, lateral...
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...in United States courts. The specific courts and proceedings to which the rules apply, along with exceptions, are set out in Rule 1101. (b) Definitions. In these rules: (1) “civil case” means a civil action or proceeding; (2) “criminal case” includes a criminal proceeding; (3) “public office” includes a public agency; (4) “record” includes a memorandum, report, or data compilation; (5) a “rule prescribed by the Supreme Court” means a rule adopted by the Supreme Court under statutory authority; and (6) a reference to any kind of written material or any other medium includes electronically stored information. RULE 102. PURPOSE These rules should be construed so as to administer every proceeding fairly, eliminate unjustifiable expense and delay, and promote the development of evidence law, to the end of ascertaining the truth and securing a just determination. RULE 103. RULINGS ON EVIDENCE (a) Preserving a Claim of Error. A party may claim error in a ruling to admit or exclude evidence only if the error affects a substantial right of the party and: (1) if the ruling admits evidence, a party, on the record: (A) timely objects or moves to strike; and (B) states the specific ground, unless it was apparent from the context; or (2) if the ruling excludes evidence, a party informs the court of its substance by an offer of proof, unless the substance was apparent from the context. (b) Not Needing to Renew an Objection or Offer of Proof. Once the court rules definitively...
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...ANG TEK LIAN, Petitioner, v. THE COURT OF APPEALS, Respondent. EN BANC [G.R. No. L-2516. September 25, 1950.] ANG TEK LIAN, Petitioner, v. THE COURT OF APPEALS, Respondent. Laurel, Sabido, Almario & Laurel, for Petitioner. Solicitor General Felix Bautista Angelo and Solicitor Manuel Tomacruz, for Respondent. SYLLABUS 1. CRIMINAL LAW; ESTAFA" ; ISSUING CHECK WITH INSUFFICIENT BANK DEPOSIT TO COVER THE SAME. — One who issues a check payable to cash to accomplish deceit and knows that at the time had no sufficient deposit with the bank to cover the amount of the check and without informing the payee of such circumstances, is guilty of estafa as provided by article 315, paragraph (d), subsection 2 of the Revised Penal Code. 2. NEGOTIABLE INSTRUMENTS; CHECK DRAWN PAYABLE TO THE ORDER OF "CASH" ; INDORSEMENT. — A check payable to the order of "cash to the person presenting it for payment without the drawer’s indorsement. D E C I S I O N BENGZON, J.: For having issued a rubber check, Ang Tek Lian was convicted of estafa in the Court of First Instance of Manila. The Court of Appeals affirmed the verdict. It appears that, knowing he had no funds therefor, Ang Tek Lian drew on Saturday, November 16, 1946, the check Exhibit A upon the China Banking Corporation for the sum of P4,000, payable to the order of "cash." He delivered it to Lee Hua Hong in exchange for money which the latter handed in the act. On November 18, 1946, the next business day, the...
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...PROJECT WORK ON “Surrogacy Motherhood” Under the Keen Supervision of:- Prof. Dr. M. Shabbir (Ambedkar Chair Professor of Law) Incharge & Chairman Department of Law, A.M.U. Aligarh Submitted by:- Faisal Ashfaq LL.M. (P) 13-LLM-20 GB1586 Synopsis * Introductory Remarks * Surrogacy and its Types * Necessity for Surrogacy * Hague Conference on Private International Law, March 2011 * National Guidelines for Accreditation, Supervision and Regulation of ART Clinics in India * The Assistive Reproductive Technology Regulation (Draft) Bill, 2010 * Socio Legal Issues * The Present Indian Scenario * International Perspective on Surrogacy * Conclusion * Bibliography Introductory Remarks The very word surrogate means “substitute”. That means a surrogate mother is the substitute for the genetic-biological mother. In common language, a surrogate mother is the person who is hired to bear a child, which she hands over to her employer at birth. According to the Artificial Reproductive Technique (ART) Guidelines:- Surrogacy is an “arrangement in which a woman agrees to a pregnancy, achieved through assisted reproductive technology, in which neither of the gametes belong to her...
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...INTRODUCTION TO THE LAW OF CONTRACT DEFINITION A contract may be defined as a legally binding agreement or, in the words of Sir Frederick Pollock: “A promise or set of promises which the law will enforce”. The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default. CLASSIFICATION Contracts may be divided into two broad classes: 1. Contracts by deed A deed is a formal legal document signed, witnessed and delivered to effect a conveyance or transfer of property or to create a legal obligation or contract. 2. Simple contracts Contracts which are not deeds are known as simple contracts. They are informal contracts and may be made in any way – in writing, orally or they may be implied from conduct. Another way of classifying contracts is according to whether they are “bilateral” or “unilateral”. 1. Bilateral contracts A bilateral contract is one where a promise by one party is exchanged for a promise by the other. The exchange of promises is enough to render them both enforceable. Thus in a contract for the sale of goods, the buyer promises to pay the price and the seller promises to deliver the goods. 2. Unilateral contracts A unilateral contract is one where one party promises to do something in return for an act of the other party, as opposed to a promise, eg, where X promises...
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...William & Mary Law Review Volume 45 | Issue 4 Article 5 A Pattern-Oriented Approach to Fair Use Michael J. Madison Repository Citation Michael J. Madison, A Pattern-Oriented Approach to Fair Use, 45 Wm. & Mary L. Rev. 1525 (2004), http://scholarship.law.wm.edu/wmlr/vol45/iss4/5 Copyright c 2004 by the authors. This article is brought to you by the William & Mary Law School Scholarship Repository. http://scholarship.law.wm.edu/wmlr A PATTERN-ORIENTED APPROACH TO FAIR USE MICHAEL J. MADISON* ABSTRACT More than 150 years into development of the doctrineof "fairuse" in American copyright law, there is no end to legislative,judicial, and academic efforts to rationalizethe doctrine. Its codification in the 1976 CopyrightAct appearsto have contributedto its fragmentation, rather than to its coherence. As did much of copyright law, fair use originated as a judicially unacknowledged effort via the law to validate certain favored practicesand patterns.In the main, it has continued to be applied as such, though too often courts mask their implicit validation of these patterns in the now-conventional "caseby-case" application of the statutoryfair use "factors"to the defendant's use of the copyrighted work in question. A more explicit acknowledgment of the role of these patterns in fair use analysis would be consistent with fair use, copyright policy, and tradition. Importantly, such an acknowledgment would help to bridge the often difficult conceptual gap between fair use...
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...INTRODUCTION TO THE LAW OF CONTRACT DEFINITION A contract may be defined as a legally binding agreement or, in the words of Sir Frederick Pollock: “A promise or set of promises which the law will enforce”. The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default. CLASSIFICATION Contracts may be divided into two broad classes: 1. Contracts by deed A deed is a formal legal document signed, witnessed and delivered to effect a conveyance or transfer of property or to create a legal obligation or contract. 2. Simple contracts Contracts which are not deeds are known as simple contracts. They are informal contracts and may be made in any way – in writing, orally or they may be implied from conduct. Another way of classifying contracts is according to whether they are “bilateral” or “unilateral”. 1. Bilateral contracts A bilateral contract is one where a promise by one party is exchanged for a promise by the other. The exchange of promises is enough to render them both enforceable. Thus in a contract for the sale of goods, the buyer promises to pay the price and the seller promises to deliver the goods. 2. Unilateral contracts A unilateral contract is one where one party promises to do something in return for an act of the other party, as opposed to a promise, eg, where...
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...OUTLINE Prof. Mark Bonner Fall 2012 |1 • INTRODUCTION | I. Trial Context A. types of evidence at trial 1. witnesses 2. real evidence – something tangible related to the case 3. demonstrative evidence – not part of the story, but lawyer wishes to show the jury something to demonstrate something about the case (e.g., experiment; picture of intersection) B. competing stories at trial – two ways stories can compete 1. factual differences 2. differences in inferences drawn from the same facts II. Policy Overview [values that the evidence rules protect] A. accuracy 1. rationality – does evidence have a rational relationship to the case? 2. reliability – is the evidence credible? B. efficiency – see FRE 403 C. fairness – rules should be party-neutral 1. but note: some rules exclude evidence to one party’s advantage (e.g., evidence that Δ fixed the steps after the accident excluded, b/c we want to encourage Δs to make steps safer) (e.g., Confrontation Clause, guarantees rt of accused in a criminal trial to confront witnesses brought against him) D. danger of misuse of information 1. one solution: limiting instructions 2. but sometimes we’re so skeptical of jury’s willingness/ability to follow...
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...CHAPTER 1 LAW OF CONTRACTS 2 Business Law Including Company Law 1.1 NATURE OF CONTRACT [Sections 1–2] INTRODUCTION We enter into contracts day after day. Taking a seat in a bus amounts to entering into a contract. When you put a coin in the slot of a weighing machine, you have entered into a contract. You go to a restaurant and take snacks, you have entered into a contract. In such cases, we do not even realise that we are making a contract. In the case of people engaged in trade, commerce and industry, they carry on business by entering into contracts. The law relating to contracts is to be found in the Indian Contract Act, 1872. The law of contracts differs from other branches of law in a very important respect. It does not lay down so many precise rights and duties which the law will protect and enforce; it contains rather a number of limiting principles, subject to which the parties may create rights and duties for themselves, and the law will uphold those rights and duties. Thus, we can say that the parties to a contract, in a sense make the law for themselves. So long as they do not transgress some legal prohibition, they can frame any rules they like in regard to the subject matter of their contract and the law will give effect to their contract. WHAT IS A CONTRACT? Section 2(h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as “every promise and every set of promises forming...
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...examining cross-fertilisation and the extent to which these trends are resulting in converging practices across national jurisdictions. The second part explores the epistemological environment of rules of evidence and procedure. The third part analyses human rights standards and the phenomenon of hybridisation in transnational and international criminal law. The final part of the book assesses Professor Damaška’s contribution to comparative law and the challenges faced by comparative law in the twenty first century. Crime, Procedure and Evidence in a Comparative and International Context Essays in Honour of Professor Mirjan Damaška Edited by John Jackson, Máximo Langer and Peter Tillers Published in North America (US and Canada) by Hart Publishing c/o International Specialized...
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...The Non-Obvious Problem: How the Indeterminate Nonobviousness Standard Produces Excessive Patent Grants Gregory Mandel∗ The dominant current perception in patent law is that the core requirement of nonobviousness is applied too leniently, resulting in a proliferation of patents on trivial inventions that actually retard technological innovation in the long run. This Article reveals that the common wisdom is only half correct. The nonobviousness standard is not too low, but both too high and too low. It is indeterminate. Three principal factors produce nonobviousness indeterminacy: a failure to identify the quantum of innovation necessary to satisfy the standard, a failure to define the baseline level of ordinary skill against which to measure an innovation, and the epistemic infeasibility of requiring a technologically lay decision maker to judge from the perspective of a more highly trained and educated person of ordinary skill in the art. This Article introduces a mathematical model of innovation and patenting to analyze the effects of nonobviousness indeterminacy. Based on the model, indeterminacy in nonobviousness decisions has several unexpected consequences. First, indeterminacy results in an excessive total number of patent grants, and in many patent grants on obvious inventions. Second, indeterminacy leads to too many patent applications on obvious inventions and too few applications on non-obvious inventions. ∗ Professor of Law, Temple University — Beasley School of...
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...THE LIABILITY OF INTERNET SERVICE PROVIDERS FOR UNLAWFUL CONTENT POSTED BY THIRD PARTIES N.D. O’BRIEN 2010 THE LIABILITY OF INTERNET SERVICE PROVIDERS FOR UNLAWFUL CONTENT POSTED BY THIRD PARTIES By N.D. O’BRIEN Submitted in fulfilment of the requirements for the degree of MAGISTER LEGUM in the Faculty of Law at the Nelson Mandela Metropolitan University January 2010 Supervisor: Prof F. Marx PREFACE I would like to extend my thanks to the following people: To my parents and Emma Taggart for their help, encouragement, sacrifice and support; To my supervisor, Prof Marx, for his assistance and guidance; To Dawn Prinsloo, at the NMMU Library, for providing me with her time and guidance; To Ms. Fourie, the Law Faculty Officer, for her always prompt and friendly assistance; To Mr. Ant Brooks and the Internet Service Provider Association, for providing me with a variety of interesting information and insights. Without their invaluable assistance I would not have been able to have completed this work. i SUMMARY Internet Service Providers (ISP’s) are crucial to the operation and development of the Internet. However, through the performance of their basic functions, they faced the great risk of civil and criminal liability for unlawful content posted by third parties. As this risk threatened the potential of the Internet, various jurisdictions opted to promulgate legislation that granted ISP’s safe harbours from liability. The South African (RSA)...
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...MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald 2014 EDITION CPE CoursE! BONUS Earn CPE Credit and stay on top of key Multistate Corporate Tax issues. Go to CCHGroup.com/PrintCPE 2014 EDITION MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald ii Contributors Authors ........................................................... John C. Healy, MST, CPA Michael S. Schadewald, PhD, CPA Technical Review ....................................................... Sharon Brooks, CPA Production Coordinator ................................................... Gabriel Santana Production ......................................................................... Lynn J. Brown Layout & Design..................................................................Laila Gaidulis This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. © 2013 CCH Incorporated. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 800 344 3734 CCHGroup.com No claim is made to original government works; however, within this Product or Publication, the following are subject to CCH’s copyright: (1) the gathering, compilation...
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...be by words (spoken or written), it may be created by conduct/actions i. Agent rx believes that Principal has manifested assent, and has rx accepted ii. (Notes….Legal Consequences of Agency) 1. Inward Looking Consequences: relate to the relationship between the principal and the agent and are largely governed by the contracts between the parties and by the law of fiduciary duties 2. Outward Looking Consequences: relates to the relationship among the principal, the agent, and a third party and are governed by various “principles of attribution” (authority….actual/apparent) 1. Tend to be the primary focus where central issue is agency formation 2. Come about because principals can be held liable for the tortuous actions of their agents c. Res 3d Agency 1.02 i. Whether a relationship is characterized as agency in an agreement between parties or in the context of industry or popular usage is...
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