American rule, Accounting Basics

A rule in economics and law that says attorney fees must be paid by every party included in litigation - even the party that wins the case. An exception to the American rule can take place when the court rewards the winning party compensation to compensate fees against a losing party that has acted in bad faith.

The American Rule is contrary with the English Rule, in which the losing party reimburses the fees for the winning party. Most of the countries outside the U.S. work under the English rule. Some people argue that the American Rule permits plaintiffs to warn other parties with expensive lawsuits so as to obtain a favorable settlement.

Posted Date: 7/30/2012 5:21:11 AM | Location : United States







Related Discussions:- American rule, Assignment Help, Ask Question on American rule, Get Answer, Expert's Help, American rule Discussions

Write discussion on American rule
Your posts are moderated
Related Questions
Goods purchased from ranu p5000

A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards like as EDI, XML, and Microsoft Excel. Interc

Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any

How do I complete this chart

A time of 12 consecutive months used by an organization to account for and report the results of its operations.

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

Q. What do you mean by single proprietorship? A single proprietorship is a non incorporated business owned by an individual and often managed by that same person. Single propri

The capital structure of Wild West Inc. is as follows: -    Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and present price at par -    Preferred shares: $2,000

Ask 1. What is the organization that is responsible for setting International Financial Reporting Standards? 2. What is the main company that Professor Levine uses for illustratio

Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi