Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Legal Remedies
Congress's Amendment To Section 104 Of The Tax Code Will Not Clarify The Tax Treatment Of Damages And Will Lead To Arbitrary Distinctions, Sharon E. Stedman
Congress's Amendment To Section 104 Of The Tax Code Will Not Clarify The Tax Treatment Of Damages And Will Lead To Arbitrary Distinctions, Sharon E. Stedman
Seattle University Law Review
This Note examines the recent amendment of I.R.C. § 104 and argues that the amendment will not clarify the tax treatment of damages but will instead lead to inequitable results and arbitrary distinctions. Part I explores the policy justifications for the exclusion of damage awards from gross income and provides a brief overview of section 104. Next, in Part II, the article reflects upon the tax treatment of damages prior to the recent amendment. In doing so, Part II focuses on the relevant case law and revenue rulings. Turning toward the tax treatment of damages under the new amendment, Part …
In Re The Exxon Valdez: The Danger Of Deception In A Novel Mary Carter Agreement, Amy Edwards Wood
In Re The Exxon Valdez: The Danger Of Deception In A Novel Mary Carter Agreement, Amy Edwards Wood
Seattle University Law Review
This Note addresses the legality and ethics of the secret agreement between Exxon and the Seattle Seven by analogy to a similar type of collusive agreement called a "Mary Carter" agreement. Part I of this Note looks at the terms of the Exxon/Seattle Seven agreements. Part II examines Judge Holland's controversial decision with respect to the Exxon/Seattle Seven agreements. Part III describes the nature of a Mary Carter agreement and the factors used to determine whether such an agreement exists. Then Part IV argues that, like Mary Carter agreements, the Exxon/Seattle Seven agreements undercut the jury system, prolong litigation, contravene …