Franklin transferred his 60% interest to Pierce Corporation as part of a complete liquidation of the company. In the exchange, he received all of the corporation’s land with a FMV of $800,000. The land had a basis to Pierce Corporation of $1,000,000. Franklin’s basis in the Pierce stock was $900,000. What amount of loss does Pierce recognize in the exchange and what is Franklin’s basis in the land he receives?

Sally was sexually assaulted by an unknown man in her apartment during a home invasion. Police investigators interviewed Sally and she agreed to meet with a composite sketch artist to attempt to draw a likeness of the suspect. After the interview, a drawing was made and Sally said the likeness was, “So-so.” In other words, the likeness was not very close but had some resemblance to the suspect. A week later, police had a suspect and a line-up was conducted. Sally was brought in to view the “suspects.”What might an expert say regarding Sally’s eyewitness identification of a suspect in this case?

In regard to court testimony, witnesses must maintain their composure as there is an old saying that “he who loses his temper loses the battle.”

Opinions can only be stated by an expert witness retained either by the prosecution or defense or appointed by the court to make statements about aspects of the case.

What is defined as any intentionally deceptive stated message?

If a defense attorney asks an officer to swear to their version of the events, an officer should never fall for this tactic since it is a ploy to indicate deception by the officer.

Officer Jones is testifying at a felony hearing. The prosecutor asks, “When you saw the defendant coming towards you, what did you say to him?”Which statement below reflects proper courtroom testimony?

What is defined as any intentionally deceptive stated message?

Opinions can only be stated by an expert witness retained either by the prosecution or defense or appointed by the court to make statements about aspects of the case.

If the defense attorney on cross-examination asks the officer to express an opinion, the officer should delay answering to allow the prosecution an opportunity to object.