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Securities Regulation Keyed to Coffee
Securities and Exchange Commission v. World-Wide Coin Investments, Ltd.
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*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. Review the Facts of this case here:
A corporation engaged in the retail and wholesale vending of precious metal, rare coins, and Coca-Cola collector items was World-Wide Coin Investments, Ltd. (World Wide)and they transacted sales at nationwide coin shows and at its office in Atlanta. The common stock of World-wide was registered with the SEC and up until 1981 was listed on the Boston Stock Exchange. When Hale took over control and management, mid-1979, World-wide had over $2 million in assets and had forty employees. A short time after, an independent auditor, Kanes, Benator, warned Hale that the internal accounting system at World-Wide was insufficient with regard to records and inventory but Hale ignored them. An accurate inventory was impossible to have because World-Wide employees were not required to write purchase orders and rare coins were never guarded. Consequently, the financial troubles that World-Wide experienced were as a result of problems caused by the absence of internal accounting controls. The SEC filed suit against World-Wide and Hale in August of 1981, claiming they violated the Securities Exchange Act of 1934.
- 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.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
- Policy: Identifies the Policy if any that has been established by the case.
- Court Direction: Shares where the Court went from here for this case.