Income Tax Keyed to Lind
Charles J. Haslam v. Commissioner
Charles J. Haslam and Harriet S. Haslam, Petitioners, are husband and wife and live in Slingerlands, New York. Petitioner and Earl Canavan established Northern Explosive, Inc. in 1954. The corporation sold and distributed explosives. Each owned 50% having invested $10,000. Petitioner managed the corporate business and was employed as a salesman. Petitioner bought out Canavan in 1957. Northern encountered financial problems and took out loans in the amount of $100,000. Petitioner guaranteed these loans. The corporation would eventually go into bankruptcy. Petitioners claimed a $55,956 business loss on the bad debt from the Northern loans. The Commissioner of Internal Revenue did not allow the deduction determining that it was deductible only as a non-business bad debt.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:Identifies the topic of law and where this case fits within your course outline.
Parties:Identifies the cast of characters involved in the case.
Procedural Posture & History:Shares the case history with how lower courts have ruled on the matter.
Case Key Terms, Acts, Doctrines, etc.:A case specific Legal Term Dictionary.
Case Doctrines, Acts, Statutes, Amendments and Treatises:Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:A Synopsis of the Facts of the case.
Rule of Law:Identifies the Legal Principle the Court used in deciding the case.
Facts:What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.
Issue(s):Lists the Questions of Law that are raised by the Facts of the case.
Holding:Shares the Court's answer to the legal questions raised in the issue.
Concurring / Dissenting Opinions:Includes valuable concurring or dissenting opinions and their key points.
Reasoning and Analysis:Identifies the chain of argument(s) which led the judges to rule as they did.