American rule, Accounting Basics

Assignment Help:

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.


Related Discussions:- American rule

What is consumption smoothing, Note: All illegible answers will be marked i...

Note: All illegible answers will be marked incorrect, so please write legibly. If you type and submit the print out of your homework (not email), you will receive 5 points extra cr

What is marginal cost and marginal revenue, Q. What is Marginal cost and ma...

Q. What is Marginal cost and marginal revenue? Marginal cost is the extra cost incurred by addingone more item. Marginal revenue is revenue from selling one more item. Economic

Assess the solvency of a business, Identify and explain the two ratios that...

Identify and explain the two ratios that are used to assess the solvency of a business.

Select Topic, A of Surat consigned goods to B of Jaipur to be sold at or ab...

A of Surat consigned goods to B of Jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real

Pattillo industries makes a product that sells, Pattillo Industries makes a...

Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the

Requirements for accounting standards, The information contained in publish...

The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca

Explain financial accounting information, Q. Explain Financial accounting i...

Q. Explain Financial accounting information? A Financial accounting information is precedent in nature that reporting on what has happened in the past. To facilitate comparison

FNSACC501 – Provide financial and business performance infor, Part 1: Stude...

Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd