"A Plaintiff Must Be Very Certain of Some Return Before

question 120

Essay

"A plaintiff must be very certain of some return before risking litigation." Discuss the wisdom of this statement as well as options that may increase the likelihood of collection after a judgment.

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Definitions:

Certified Check

A type of check for which the issuing bank guarantees the availability of funds by verifying the drawer's signature and setting aside the check amount from the drawer's account.

Statement of Income and Expense

A financial document that summarizes revenue and expenses over a specific period, showing net profit or loss.

Profitability

The financial metric that measures the degree to which a business or activity yields profit or financial gain.

Quarterly Return

The Employer’s Quarterly Federal Tax Return, a form submitted to the IRS every 3 months that summarizes the federal income and employment taxes withheld from employees’ paychecks.