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Ford Motor Credit Reaches Settlement with States over Leasing Practices
The office of the Michigan Attorney General has announced that it has reached a multistate settlement with Ford Motor Credit regarding its leasing practices. This settlement will affect more than 150,000 Ford customers and bring $485,500 to the state of Michigan in legal fees and costs.
In addition, 37 other states have joined in the settlement involving Ford Motor Credit's “Red Carpet” leasing program, which came under scrutiny when a multistate group of investigators found that early termination of vehicle leases resulted in charges that were sometimes higher than the actual balance owed in the lease. Dealers would notify customers of the balance due, which included an additional charge not owed to Ford Motor Credit under the terms of the lease. The dealer would discharge the lease obligation to Ford Motor Credit but kept the extra amount charged to consumers, who were unaware of the correct payoff figure.
In reaching this settlement, Ford Motor Credit and 1300 participating Ford and Lincoln Mercury dealers have agreed to pay more than $6.2 million in legal fees and costs. Further, 77 dealers in Michigan have committed to the reforms set forth in the settlement. The result will be that approximately 150,000 customers nationwide will be notified by Ford Motor Credit and may qualify for a $100 restitution check from the company. The company estimates, however, that less than 10% of these customers will be eligible for restitution.
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.
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.