Reference - Revenge

question 26

Multiple Choice

Reference - Revenge. Jane, a first year law student, while walking to school in inclement weather, accidentally slipped on ice knocking down Greg, another first year law student, breaking his glasses. He was very angry with Jane and let the air out of one of her car tires. Greg also decided to sue Jane for negligence, claiming as damages $300 for his broken glasses. He decided that he already knew all about the law and did not need a lawyer. Greg sued Jane in state court. Jane, in the same lawsuit, brought an action against Greg for letting the air out of her tire. At trial in state court, Jane told the judge that a friend, Susie, told her that she saw Greg let the air out of Jane's tire. The judge disallowed Jane's testimony on that issue. Susie, however, who was in the courtroom also came and testified to that effect. The state court judge ruled in favor of Susie. Greg said that he was not giving up and that he would seek double damages on appeal in federal court. Jane and Greg live in different states when not attending school. After trial, Jane reported Greg's actions in letting the air out of her tire to the police who said that they would proceed with a criminal action against Greg. Greg goes to see Alex, a recent graduate who had just passed the bar, and asked Alex to represent him in a federal court appeal. What advice should Alex give to Greg regarding an appeal filed in federal court?

• A) He should tell Greg that a federal appeal looks promising and that he will be glad to represent Greg for an hourly rate of $400.
• B) He should tell Greg that the federal appeal looks good only if Greg can get Jane to admit she was negligent.
• C) He should tell Greg that the federal appeal looks good only if Susie does not come to testify in person.
• D) He should tell Greg that the federal appeal is not possible unless Greg first gets the trial court judge to certify the case to federal court.
• E) He should tell Greg to forget about a federal court appeal because an appeal from a state trial court would not be transferred to federal court.

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Definitions:

Deposit Account

A deposit account is a bank account that allows the holder to deposit and withdraw money, often earning interest, including savings accounts, checking accounts, and other transaction accounts.

Liabilities

Financial obligations or debts that a company or individual owes to others, which must be paid back in the future.

Government Securities

Financial instruments issued by the government to borrow money from the public.

Excess Reserves

The amounts of cash banks hold in reserve over and above the regulatory requirements, which can influence their capacity for lending and overall liquidity in the economy.