Assignment 5

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 a seven (7) 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 courts 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 students name, the professors 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.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.

Please click here to view the grading rubric.

The assignment will be graded using the following rubric:

Points: 225 Assignment 5: Brown v. the Board of Education
Criteria Unacceptable
Below 70% F Fair
70-79% C Proficient
80-89% B Exemplary
90-100% A
1. Summarize the facts associated with Johnson Bank v. George Korbaken Company.
Weight: 20% Did not submit or incompletely summarized the facts associated with Johnson Bank v. George Korbaken Company. Partially summarized the facts associated with Johnson Bank v. George Korbaken Company. Satisfactorily summarized the facts associated with Johnson Bank v. George Korbaken Company. Thoroughly summarized the facts associated with Johnson Bank v. George Korbaken Company.
2. Identity the primary and secondary legal question(s) that are under consideration.
Weight: 20% Did not submit or incompletely identified the primary and secondary legal question(s) that are under consideration. Partially identified the primary and secondary legal question(s) that are under consideration. Satisfactorily identified the primary and secondary legal question(s) that are under consideration. Thoroughly identified 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.
Weight: 15% Did not submit or incompletely prioritized the rules of law that the court will consider in this case. Partially prioritized the rules of law that the court will consider in this case. Satisfactorily prioritized the rules of law that the court will consider in this case. Thoroughly prioritized the rules of law that the court will consider in this case.
4. Compile the courts decision and opinions on the case.
Weight: 15% Did not submit or incompletely compiled the courts decision and opinions on the case. Partially compiled the courts decision and opinions on the case. Satisfactorily compiled the courts decision and opinions on the case. Thoroughly compiled the court: s decision and opinions on the case.
5. Prepare a conclusion for the outcome of the case.
Weight: 10% Did not submit or incompletely prepared a conclusion for the outcome of the case.
Partially prepared a conclusion for the outcome of the case. Satisfactorily prepared a conclusion for the outcome of the case. Thoroughly prepared 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.
Weight: 10% Did not submit or incompletely determined how this case may have been treated differently if it had been decided in 2012 instead of 2006.
Partially determined how this case may have been treated differently if it had been decided in 2012 instead of 2006.
Satisfactorily determined how this case may have been treated differently if it had been decided in 2012 instead of 2006.
Thoroughly determined how this case may have been treated differently if it had been decided in 2012 instead of 2006.

7. Clarity, writing mechanics, and formatting requirements
Weight: 10% More than 6 errors present 5-6 errors present 3-4 errors present 0-2 errors present
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