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Helvering V. Bruun
''Helvering v. Bruun'', 309 U.S. 461 (1940), was an income tax case before the Supreme Court of the United States. It is notable (and thus appears frequently in law school casebooks) for holding that under section 22(a) of the Revenue Act of 1932, income need not be in the form of cash for it to be taxable. Gain may occur as a result of exchange of property, payment of the taxpayer's indebtedness, relief from a liability, or other profit realized from the completion of a transaction. Facts A landlord repossessed land from a tenant who had defaulted in the eighteenth year of a 99-year lease. During the course of the lease, the tenant had torn down an old building (in which the landlord's adjusted basis was now $12,811.43) and had built a new one (whose value was now $64,245.68). The lease had specified that the landlord was not required to compensate the tenant for these improvements. The government argued that upon repossession, the landlord realized a gain of $51,434.25. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawyers' Edition
The ''United States Supreme Court Reports, Lawyers' Edition'', or ''Lawyers' Edition'' (L. Ed. and L. Ed. 2d in case citations) is an unofficial reporter of Supreme Court of the United States opinions. The ''Lawyers' Edition'' was established by the Lawyers Cooperative Publishing Company of Rochester, New York in 1882, and features coverage of Supreme Court decisions going back to 1790. The first ''Lawyers' Edition'' series corresponds to the official '' United States Reports'' from volume 1 to volume 351, whereas the second series contains cases starting from the official reporter volume 352. It is currently published by LexisNexis. The ''Lawyers' Edition'' differs from the official reporter in that the editors write headnotes and case summaries, as well as provide annotations to some cases, and decisions are published far in advance of the official reporter. As such, it is similar to West's unofficial '' Supreme Court Reporter'' (S. Ct.). ''Lawyers' Edition'' case report ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
8th Cir
8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of the form , being an integer greater than 1. * the first number which is neither prime nor semiprime. * the base of the octal number system, which is mostly used with computers. In octal, one digit represents three bits. In modern computers, a byte is a grouping of eight bits, also called an octet. * a Fibonacci number, being plus . The next Fibonacci number is . 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. * the only nonzero perfect power that is one less than another perfect power, by Mihăilescu's Theorem. * the order of the smallest non-abelian group all of whose subgroups are normal. * the dimension of the octonions and is the highest possible dimension of a normed division algebra. * the first num ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certiorari
In law, ''certiorari'' is a court process to seek judicial review of a decision of a lower court or government agency. ''Certiorari'' comes from the name of an English prerogative writ, issued by a superior court to direct that the record of the lower court be sent to the superior court for review. The term is Latin for "to be made certain", and comes from the opening line of such writs, which traditionally began with the Latin words "''Certiorari volumus''..." ("We wish to be made certain..."). Derived from the English common law, ''certiorari'' is prevalent in countries utilising, or influenced by, the common law''.'' It has evolved in the legal system of each nation, as court decisions and statutory amendments are made. In modern law, ''certiorari'' is recognized in many jurisdictions, including England and Wales (now called a "quashing order"), Canada, India, Ireland, the Philippines and the United States. With the expansion of administrative law in the 19th an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Code
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC). It is organized topically, into subtitles and sections, covering income tax in the United States, payroll taxes, estate taxes, gift taxes, and excise taxes; as well as procedure and administration. The Code's implementing federal agency is the Internal Revenue Service. Origins of tax codes in the United States Prior to 1874, U.S. statutes (whether in tax law or other subjects) were not codified. That is, the acts of Congress were not separately organized and published in separate volumes based on the subject matter (such as taxation, bankruptcy, etc.). Codifications of statutes, including tax statutes, undertaken in 1873 resulted in the Revised Statutes of the United States, approved June 22, 1874, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United States
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point of federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." The court holds the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution. It is also able to strike down presidential directives for violating either the Constitution or statutory law. However, it may act only within the context of a case in an area of law over which it has jurisdiction. The court may decide cases having political overtones, but has ruled that it does not have power to decide non-justiciable political questions. Established by Article Three of the United State ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landlord
A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a ''lessee'' or ''renter''). When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for the female owners. The manager of a pub in the United Kingdom, strictly speaking a licensed victualler, is referred to as the landlord/landlady. In political economy it refers to the owner of natural resources alone (e.g., land, not buildings) from which an economic rent is the income received. History The concept of a landlord may be traced back to the feudal system of manoralism ( seignorialism), where a landed estate is owned by a Lord of the Manor ( mesne lords), usually members of the lower nobility which came to form the rank of knights in the high medieval period, holding their fief via subinfeudation, but in some cases the land ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Default (law)
In law, a default is the failure to do something required by law or to comply with a contractual obligation. Legal obligations can arise when a response or appearance is required in legal proceedings, after taking out a loan, or as agreed in a contract; failure to carry them out puts one in defaults of the obligations. The concept of a "deliberate default" was considered in a UK legal case determined in 2010, '' De Beers UK Ltd. v Atos Origin It Services UK Ltd.'', where a contract had referred to this term. Edwards-Stuart J described "deliberate default" as meaning, in his view, Before the De Beers case there was little judicial guidance on the meaning of "deliberate default". The same term ("deliberate defaulters") has been used by Her Majesty's Revenue and Customs (HMRC) in the UK to describe "people who deliberately get their tax affairs wrong". Default in legal proceedings Failure to appear at a required time in legal proceedings can constitute a default. In the United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
99-year Lease
A 99-year lease was, under historic common law, the longest possible term of a lease of real property. It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom. The law Under the traditional common law doctrine, the 99-year term was not literal, but merely an arbitrary time span beyond the life expectancy of any possible lessee (user) or lessor (owner). William Blackstone (1723–1780, of Commentaries on the Laws of England fame) states that a lease was formerly limited to 40 years, although much longer leases (for 300 years, or 1000 years) were in use by the time of Edward III. The 40-year limit was based on the unreliable text " The Mirror of Justices" (book 2, chapter 27). In the law of several US states, a 99-year lease will always be the longest possible contract for realty by statute, but many states have enacted shorter terms and some allow infinite terms. Due to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building
A building, or edifice, is an enclosed structure with a roof and walls standing more or less permanently in one place, such as a house or factory (although there's also portable buildings). Buildings come in a variety of sizes, shapes, and functions, and have been adapted throughout history for a wide number of factors, from building materials available, to weather conditions, land prices, ground conditions, specific uses, monument, prestige, and aesthetic reasons. To better understand the term ''building'' compare the list of nonbuilding structures. Buildings serve several societal needs – primarily as shelter from weather, security, living space, privacy, to store belongings, and to comfortably live and work. A building as a shelter represents a physical division of the :Human habitats, human habitat (a place of comfort and safety) and the ''outside'' (a place that at times may be harsh and harmful). Ever since the first cave paintings, buildings have also become objects or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Repossession
Repossession, colloquially repo, is a "self-help" type of action, mainly in the United States, in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers. The extent to which repossession is authorized, and how it may be executed, greatly varies in different jurisdictions (see below). When a lender cannot find the collateral, cannot peacefully obtain it through self-help repossession, or the jurisdiction does not allow self-help repossession, the alternative legal remedy to order the borrower to return the goods (prior to judgment) is replevin. The security interest over the collateral is often known as a lien. The lender/creditor is known as the lienholder. General The existence and handling of repossessions varies greatly between jurisdictions. In most jurisdictions outsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of United States Supreme Court Cases, Volume 309
This is a list of cases reported in volume 309 of ''United States Reports'', decided by the Supreme Court of the United States in 1939 and 1940. Justices of the Supreme Court at the time of volume 309 U.S. The Supreme Court is established by Article III, Section 1 of the Constitution of the United States, which says: "The judicial Power of the United States, shall be vested in one supreme Court . . .". The size of the Court is not specified; the Constitution leaves it to Congress to set the number of justices. Under the Judiciary Act of 1789 Congress originally fixed the number of justices at six (one chief justice and five associate justices). Since 1789 Congress has varied the size of the Court from six to seven, nine, ten, and back to nine justices (always including one chief justice). When the cases in volume 309 were decided the Court comprised the following members: Federal court system Under the Judiciary Act of 1789 the federal court structure at the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
