Currency, coins, balances in savings and checking accounts, items acceptable for deposit in these accounts (such as check received from customers), and cash equivalents

The amount of cash owed to the company by its customers from the sale of products or services on account

Contra asset account representing the amount of accounts receivable that we do not expect to collect

Items a company intends for sale to customers

Costs of assets acquired in one period that will be expensed in a future period

Cash used to purchase another company’s debt or stock

Formal credit arrangements evidenced by a written debt instrument or note

Contra asset account representing the total amount of depreciation for a specific asset over time

Crime

an offense against a state or federal government and individual acts with Mens Rea

A wrong against society

Civil Law

 disputes between citizens, corporations, governmental bodies

Who does Criminal Law apply to and where does it comes from?

brought against those accused of committing a crime (corporations and people)

comes from statutes (legislature)

A serious crime punishable by 1+ years in prison

Misdemeanors

A less serious crime punishable by a fine or less than a year in prison    

Ex. theft less than $250, DUI, Possession of marijuana less than 40 grams

·      Violent crimes involving physical force

·      Crimes against property – burglary and theft

·      White-Collar Crimes – Embezzlement, bribery, fraud, and violations of federal and state laws regarding businesses

beyond reasonable doubt that (1) illegal act was committed by the accused (2) there was necessary intent to commit the act

Actus Reus

The guilty act of the crime

Mens Rea (criminal intent)

The “guilty mind” or the act was done with a wrongful purpose

Criminal Negligence

o   Criminal conduct that is not intentional but wrongful because of the failure to act with responsible care

Ex. Texting and Driving

Miranda Rights

include the right o remain silent, right to be represented by counsel and that anything said may be used as evidence against them

Statute of Limitations 

for murder?

for felonies?

for misdemeanors?

the time set for someone to be prosecuted of a crime

murder = no time limite

felonies = 3 years

misdemeanors = 1 to 2 years

the clock to prosecute within the permitted time stops running under the circumstances

Alibi

evidence which would give the jury reasonable doubt against the prosecutors claim of the defendant

Affirmative Defense

the defendants attempt to show that there are other facts which prevent charging the crime

o   Ex. intoxication or insanity, claim of self defense

Entrapment

enforcement authorities set up a trap to lure someone into a crime they had no intention of committing

Warrant

issued by a judge which authorizes an officer to search and seize and property that may be evidence of a crime

determines probable cause and issues indictments

Arraignment

a court appearance where the district attorney gives the accused a copy of the criminal charges. 

 defendant may plead guilty, not contest (nolo contendere), or be innocent

Bail is a fee that may be posted in order to ensure the return of the defendant.

Plea Bargain

defendant must be convicted beyond a reasonable doubt that they committed the crime

hiding the truth of the origins of money

Common with people who deal drugs

an attempt to stop organized crime by seizing defendant's assets, preventing transfer of assets, or requiring them to post a performance bond

Racketeering

o   a pattern of illegal activity which is controlled by an enterprise who is engaged in the illegal activity.

i.e. the mafia

3 goals of the Anti-Money Laundering (AML)

                              1.     identify the beneficial owner of assets

                              2.     trace the transmission of assets

                              3.     report suspicious transactions

 1^st degree murder (A class)

2^nd degree murder

an intent to cause death but not premeditated

-or-

commits a felony and while fleeing causes death to another

1^st degree manslaughter  

actions recklessly cause the death of another person

2^nd degree manslaughter 

criminal negligence (criminal conduct that is not intentional but wrongful) causes the death of another person

Ex. texting the cause of victim's death

person engages in sexual intercourse by forcible compulsion using a deadly weapon or kidnap, inflicting serious physical injury

-or-

person feloniously enters where the victim is

2^nd degree rape

person engages in sexual intercourse by forcible compulsion, the victim is incapable of consent, perpetrator is a healthcare provider and the consent given is not for the purpose of treatment

-or-

the victim is a resident of a mental facility

3^rd degree rape

person engages in sexual intercourse with another person not married to the perpetrator where the victim did not give consent

victim has to verbally say no

1^st degree rape of a child 

2^nd degree rape of a child

3^rd degree rape of a child

any penetration of the vagina, anus, sex organs, or mouth

school employee has sex with student under age of 18, at least 16 but under 21.

applies to foster parents as well 

1^st degree assault (A class)

intent to inflict great bodily harm using a firearm for the purpose to cause death or poison

2^nd degree assault

3^rd degree assault 

4^th degree assault 

anything not listed in 1^st, 2^nd or 3^rd, degree assault where they assault another

Harmful or offenseive touching

Harassment

Malicious Harassment (C class Felony) 

aka Hate Crime

intentionally causes physical injury, physical damage or fear to a person’s property based on victims protected class

Stalking

Insanity 

No intent to do harm but the conduct causes endangerment. 

Manslaughter 1

Ex. driving excessive speeds and weaving in and out of traffic

Jail - before convicted of crime where the punishment is 1 year or less

Prison - after convicted of crime where the punishment is more than 1 year

1. Murder was intentional

2. Murder was premeditated

3. Special Circumstances (multiple victums, torture, law officer, hate crime)

entrapment

duress (forced participation in a crime)

insanity

a contract that restrains trade

Ex. price fixing or bid rigging 

If you tell the government that a company is defrauding the government, you are entiled to approxmately 1/3 of the damages.

Ex. Glaxo Kline got $100 million

1. reasonable fear

2. imminent danger

3. chance for great bodily harm

Police gives statement of probable cause for the warrent

Prosecutor reviews it and sends it to judge

Judge approves or rejects the evidence

If approved warrant is issued

1. felony committed in presence of officer

2. misdemeanor committed in presence of officer

3. domestic violence if within 4 hours of event

4. 

5. anyone with an arrest warrant