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Seller Beware: Insureds Not Covered for Misrepresentations in the Transfer of Real Estate
The situation is not uncommon: A buyer purchases a residence or piece of land, discovers material defects, and files suit against the seller based on fraud and negligent misrepresentation, seeking the cost of repairing the defective condition or rescission of the purchase agreement. Judging by the growing body of case law, the seller then tenders the suit to its liability insurer, typically under a homeowners or general liability policy.
Insurance carriers and most courts are in accord that there is no obligation to defend or indemnify the insured seller for third-party claims based on misrepresentations in the sale of real estate. On the broadest level, the majority of courts have concluded that these economic loss-type claims do not fall within the typical liability policy. More specifically, courts need look no further than the language of the Insuring Agreement, which generally requires, with some degree of variation depending on the policy, an occurrence, property damage, and a causative nexus between them.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.