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Consumer Vehicle Leasing Survey Details Cost of Vicarious Liability
The Association of Consumer Vehicle Lessors (ACVL) of Nashville, TN has released its “New York Vicarious Liability Survey,” which casts an ominous cloud over the future of consumer vehicle leasing in New York State. The survey, conducted in September 2003, details the magnitude and effects of vicarious liability suits against ACVL member companies in New York from Jan. 1, 2000 to June 30, 2003. The results evidence the enormity of the vicarious liability claims filed against New York consumer vehicle lessors and explain why some ACVL member lessors have suspended their leasing programs in New York altogether while others have imposed special fees for leases written in New York.
Under the doctrine of vicarious liability, leasing companies are responsible for the damages from all accidents involving their leased vehicles despite having no fault whatsoever or control over the lessee/driver. No other state subjects consumer vehicle lessors to this unlimited liability. In addition, the same vehicle, if financed as an installment sale by the same finance company and involved in the same accident, would not subject the company to any liability exposure.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.