ADMS 2500 : ADMS 2610 review notes.docx

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plumhamster935

4 Apr 2014

School

York University

Department

Administrative Studies

Course

ADMS 2500

Professor

John Kucharczuk

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ADMS 2500 Full Course Notes

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Action: action of one party against the other. An action is a claim brought in court by people (or entities who have legal rights, such as a company) against one or more people/entities begins with a claim and ends in a decision of the court. Decisions of the case are identified by name(s) Plaintiff: person bringing law suit defendant : person against whom the action is brought. Example: stewart jones v. bank of montreal. Legislation: written law passed by particular level of government, determined by canadian constitution. Federal government = federal legislature/ house of commons. To enact/make legislation = when a level of government passes legislationit then becomes law. Presented in the form of a bill (the written law to be considered by federal/provincial mp: when passed , the bill becomes a piece of legislation/legislation/ a statute/enactment/act. Will say whom it applies to codified in writing.

Related Questions

Plaintiff purchased an automobile from a dealer in Alabama for $40,750.88. The national distributor of such automobiles did not inform the dealer that the car had been repainted before delivery. The policy of the national distributor is not to inform dealers of repairs costing less than three percent of the retail price of the car.

The policy was legal in many states. Plaintiff noticed no flaws in the appearance of the automobile at the time of purchase. Nine months later, however, the plaintiff took the car to a detailer who told him that the sedan appears to have been repainted. Plaintiff brought suit against the defendant national distributor for actual and punitive damages.

To support his claim for punitive damages the plaintiff introduced evidence that since 1983 the defendant had without disclosure sold 983 refinished cars as new, including 14 in Alabama. Using $4,000 per vehicle as actual damages, the plaintiff argued that an appropriate punitive damages award would be $4 million for the approximately 1,000 vehicles sold for more than they were worth. The jury at trial awarded compensatory damages of $4,000 and punitive damages of $4,000.000.

1. Highlight the pertinent facts;

2. Identify the issue of law posed by the case problem;

3. What should be the decision in the case?

4. The reasoning for such a decision.

sangriagoldfish771

Question 1

You are president of ACME Enterprises. Every year you have to pay a federally imposed fee for your business. This statute arises from a statute that was previously passed by the United States Congress. Being very "anti-tax" you decide one year that you are tired of paying the fee and that you want to get the fee eliminated. However, you do believe that the fee is constitutional. Which branch of government could pass a law which could eliminate this fee for you?

Judicial B. Legislative C. Executive D. Municipal

Question 2

Which of the following statements is not true?

Bob, a resident of New Jersey, sues Ed, a resident of Florida, for $100,000 over a real estate deal. Bob must bring his suit in a Florida court. B. The conflict of laws may guide a federal court in deciding which state's laws to apply in a case. C. Federal courts have exclusive jurisdiction over bankruptcy cases. D. You are not required to be represented by an attorney in small claims court

Question 3

You were convicted of the federal crime of possession of cocaine with intent to distribute across interstate lines. Your case was tried in the United States District Court for the Southern District of West Virginia. Now, you wish to appeal your case to get your conviction overturned. To which body should you first appeal your case?

United States Supreme Court B. 4^th Circuit Court of Appeals. C. United States Magistrate Court D WV Supreme Court

Question 4

Venue concerns:

Whether a federal court has jurisdiction B. The most appropriate court for the action to be brought within a particular state or federal jurisdiction C. Whether a state court has jurisdiction. Whether a defendant has properly served with process

Question 5

The decision of a state court can never be appealed to the U.S. Supreme Court.

True or False

Question Six

A rule of law enabling the defendant to win even if all of plaintiffâs allegations are true is a

Counterclaim B. Deposition C. Judgement N.O.V. D. Affirmative Defense

Question 7

Johnson is a creditor of Barnes. Johnson wants to file a petition to have Barnes declared bankrupt. Which of the following statements is true?

Johnson can file his petition in either state or federal court B. Johnson should file his petition in US. District court C. Only a federal bankruptcy can hear a bankruptcy case D. bankruptcy cases can be heard in federal tax court

Question 8

Which of the following is a type of alternative dispute resolution that is binding on the parties?

Mediation B. Non-binding arbitration C. Binding arbitration D. Summary jury trial

Question 9

A writ of certiorari is the most common way to appeal a case to the Supreme Court.

True Or False

Question 10

A written record of the entire trial proceedings including the testimony of all the witnesses and any discussions between the judge and the attorneys is called a:

Treatise B. Citation C. Brief D. Transcript

Question 11

Which of the following Alternative Dispute Resolution processes can result in a decision that, under most circumstances, can't be appealed to another organization?

Binding Arbitration B. Non-binding Arbitration C. Mediation D. Mini-trial E. A & C F. None of the above

Question 12

The decision of a mediator is binding upon the parties.

True or False

Question 13 A new claim stating that plaintiff owes defendant damages because of harm resulting from the incident alleged in the complaint is a(n):

Affirmative defense B. Cross-claim C. Counterclaim D. Dissenting opinion

Question 14

Federal question jurisdiction:

A type of jurisdiction possessed by state trial courts B. Is the most common form of U.S. supreme court jurisdiction C. requires that the amount in controversy be at least $10,000 D. is jurisdiction over questions arising under federal laws, treaties, and in the U.S. constitution

Question 15

The primary way a case can be appealed to the West Virginia Supreme Court is through filing a document referred to as a:

Writ of certiorari B. writ of habeas corpus C. writ of quo warranto D. writ of mamdamus

Question 16

Which of the following is NOT true of the appellate procedure?

The appellate court hears witnesses and fathers new evidence B. A transcript of the trial must be sent to the appeals court C. The appealing party must show that material errors occurred in the trial D. The appeals court may reverse and remand the decision

Question 17

If P sues D, and D wants to allege that P's own negligence caused her injury, D should allege this in:

The complaint B. The answer C. The reply D. The counterclaim

Question 18

Uncle Jesse wants to sue Cletus Hogg (Uncle Jesse's neighbor) for trespassing on Uncle Jesse's land and for causing $50,000 worth of damage to Uncle Jesse's land. Both Uncle Jesse and Cletus live in Jackson County, West Virginia. Uncle Jesse comes to the law office you work for and your supervising attorney concludes that Uncle Jesse's case can take place in state court in West Virginia. What court should your law firm file the complaint in?

Jackson county superior court B. Jackson county circuit court of appeals C. United states district court in the southern district of WV D. Jackson county circuit court E. 4^th court of appeals

Question 19

Cases heard in the federal courts must involve either a federal question or situations in which there is diversity of citizenship between the parties.

True or False

Question 20

In the American legal system, a judge cannot overturn a jury verdict.

True or False

Question 21

A U.S. Court of Appeals is empowered to:

Hear witnesses and determine facts B. Hear only patent, copyright, and trademark appeals C. Review legal conclusions reached by lower federal courts and administrative agencies D. Make findings of fact

Question 22

A mini-trial is conducted under the supervision of the court.

True or False

Question 23

Eve attempts suicide by locking herself inside the trunk of her car. Someone discovers Eve after several days. She is still alive. Eve sues the manufacturer of her car for a large amount of money because it did not provide for a latch inside the trunk. Which of the following may be the first step that the car manufacturer would want to make in this case?

Make a motion to dismiss the case B. Make a motion for a directed verdict C. Make a motion of judgement n.o.v D. Take the case to small claims court

Question 24

Which of the following is NOT true of trials?

Preponderance of evidence is the standard used in civil trials B. proof beyond a reasonable doubt is the standard used in criminal trials C. The state can make a motion for judgement notwithstanding the verdict when the defendant is acquitted in a criminal trial D. a directed verdict may be granted in a civil case if the plaintiffâs evidence is not sufficient to support her allegations

Question 25

You sued your brother in Kanawha County Circuit Court because he hit you with his car in Charleston, West Virginia and caused you to become partially paralyzed on the left side of your body. This civil law case does not involve any federal issues or law; the case is purely a state law case and it involves about $500,000 in damages. The case was tried in a state court in Charleston and your brother lost. Your brother now wants to appeal his case to try to get the jury verdict overturned. To what organization should your brother first try to appeal his case?

United States Supreme Court B. West Virginia Supreme Court C. Kanawha County Circuit Court D. Kanawha County Family Court E. West Virginia Legislature

emeraldpanda983

Need help with this article ( I'm working on a auditing case study)

PwC settles $5.5bn fraud detection lawsuit

Miami court case shone light on auditors responsibility to detect wrongdoing

PwC has settled a lawsuit brought against it over one of the biggest bank collapses in US history, in a landmark case that shone a light on the responsibility of auditors to detect fraud.

The worldâs biggest professional services firm by annual revenues had been accused of failing to catch a multibillion-dollar conspiracy between executives at Taylor, Bean & Whitaker, a defunct mortgage lender, and counterparts at Colonial Bank, an Alabama-based lender that supplied TBW with loans. PwC gave the bankâs parent, Colonial BancGroup, a clean audit opinion for six years until it collapsed in 2009, when it emerged that huge chunks of its loans to TBW were secured against assets that did not exist. The plaintiff, the bankruptcy trustee of TBW, had been seeking $5.5bn plus punitive damages, in the biggest accounting negligence lawsuit ever to go to trial. The decision to settle â for a confidential sum â came four weeks into proceedings in a state court in Miami. âThe case was settled to the mutual satisfaction of the parties,â said PwC. Steven Thomas, lead trial lawyer for the plaintiff, declined to comment on Fridayâs settlement. But speaking broadly, he told the Financial Times: âThe history that has happened here over the last few years, and the fallout of the Great Recession, has shown that what auditors do, matters. Auditors owe ultimate allegiance to the investing public; I think that is becoming more and more clear.â A separate lawsuit filed against PwC by the Federal Deposit Insurance Corporation, the regulator, and Colonialâs bankruptcy trustee is pending in Alabama federal court.

Mr Thomasâ team had claimed that PwC was in a position to catch and stop the fraud but missed multiple red flags. In its opening statements, PwC countered that no auditor can reasonably be expected to catch a well-organised and determined fraud. Mr Thomas had raked over what he had described as âthe worst auditâ he had ever seen, grilling the former lead audit partner at PwC over what he claimed were a series of lapses. Last week he produced a 2006 document in which a PwC representative â an intern â assigned to identify assets pledged as collateral for loans, reported back that she âfeltâ the collateral was âadequateâ. The same report the following year, signed off by more senior staff, contained an identical paragraph. On Wednesday, Lynn Turner, a former chief accountant for the US Securities and Exchange Commission, opened up a new flank of vulnerability for PwC by saying that the firm had violated auditor independence standards that he himself had helped to craft.

Called as the third and final expert witness for the plaintiffs, Mr Turner said he believed that PwC should not have continued to audit Colonial in 2005 and 2006, after a senior manager who worked on those audits was hired by Colonial in a top financial oversight position. Mr Turner, who helped draft the Sarbanes-Oxley Act of 2002 after a wave of corporate scandals, said that PwC should not have cited an âemergencyâ exemption to standards banning accounting firms from auditing a company for a year after it makes such a hire. The ending of the trial does not end PwCâs legal challenges. The firmâs Brazilian unit is the target of an action in New York brought by the Bill and Melinda Gates Foundation, alleging that corruption at Petrobras, the state-run oil company, was âwilfully ignoredâ by its auditor. Back in the US, PwC is facing trial over its role in the collapse of MF Global, the futures brokerage, after a federal judge this month gave the go-ahead to a $1bn lawsuit over how it accounted for the European sovereign debt that tipped it into bankruptcy.

Nader Tavakoli, MF Globalâs lead director, said the decision to allow the suit sent âa strong message concerning the need for responsibility and accountabilityâ, and that he hoped to secure âa substantial recoveryâ for the estate. Last year, PwC agreed to pay $65m to settle a separate lawsuit claiming it failed to properly audit MF Globalâs internal controls before its collapse.

1-Impact on stock price/shareholders/investors

a- In response to lawsuit/charges

b-In response to settlement

2- Implications for future or industry or auditors

a-Where other auditors affected by the lawsuit and settlement?

b-What does this mean for the future of auditing?

c- Other lawsuits?

azureherring974

ADMS 2500 : ADMS 2610 review notes.docx

ADMS 2500 Full Course Notes

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