Assignment 5 “Brown v. the Board of Education”
Read Case 40.3, Johnson Bank v. George Korbaken Company, LLP. 472F.3d 439. Web2006 U.S. App.Lexis 31058 (2006) United States Court of Appeals for the Seventh Circuit. Using the IRAC Method of briefing cases found in the Appendix, prepare a document that outlines the legal aspects of this case.
Many lawsuits against accountants involve liability of accountants to Third Parties. The plaintiffs are Third Parties (e.g., shareholders, bondholders, trade creditors, and banks) who relied on information supplied by the auditor. There are three (3) major rules of liability that a state can adopt in determining whether an accountant is liable in negligence to third parties.
1. The Ultramares doctrine.
2. Section 552 of The Restatement (Second) of Torts.
3. The foreseeability standard.
Write an eight to twelve (8-12) page paper in which you:
1. Summarize the facts associated with Johnson Bank v. George Korbaken Company.
2. Identity the primary and secondary legal question(s) that are under consideration.
3. Prioritize the rules of law that the court will consider in this case.
4. Compile the court’s decision and opinions on the case.
5. Prepare a conclusion for the outcome of the case.
6. Determine how this case may have been treated differently if it had been decided in 2012 instead of 2006.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Given a business situation, evaluate the various options for resolving a business dispute from a legal perspective and develop an optimal course of action to resolve the dispute.
Analyze company policies to ensure compliance with key provisions of the major federal laws related to investor protection, equal employment opportunity, consumer protection, and environmental protection.
Use technology and information resources to research issues in commercial law.
Write clearly and concisely about commercial law using proper writing mechanics.