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Securities Regulation Keyed to Coffee
Nesbit v. McNeil
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- 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.
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- 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. Review the Facts of this case here:
Nesbit (Plaintiff), as a trustee and individually, opened trading accounts, investing roughly $210,000 at the brokerage house Black & Company with stockbroker McNeil. Over time, the equity appreciated to about $400,000 but during that time McNeil effected over 1000 transactions, valued at $4.4 million with commissions totaling $250,000. Nesbit closed the account and sued McNeil for “churning”. The trial court held McNeil to have unreasonably traded, and granted damages in the sum of the surplus. McNeil appealed, arguing that damages should be canceled out by trading gains.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
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- Policy: Identifies the Policy if any that has been established by the case.
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