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New York Court of Appeals Upholds 'No Prejudice' Rule
On April 5, 2005, the New York Court of Appeals upheld long-standing New York law that a policyholder's late notice defeats coverage under a commercial liability policy without any specific requirement that an insurer demonstrate prejudice. The court disagreed with any assessment that the “no prejudice” rule was a doctrine whose time had come. It rejected a policyholder's request to apply a prejudice rule to “notice of a suit in commercial policies where the notice was admittedly late.” See Argo Corporation, et al. v. Greater New York Mutual Insurance Co., (N.Y. April 5, 2005). In a separate opinion issued on the same day as Argo, the court did apply a “prejudice” standard in the limited context of supplemental underinsured motorist (“SUM”) coverage where late notice of a SUM claim followed timely notice of the underlying accident. Rekemeyer v. State Farm Mutual Automobile Insurance Co., (N.Y. April 5, 2005).
The recent Court of Appeals opinions were especially significant because New York is a worldwide center of finance, including insurance. These decisions maintain clear and consistent jurisprudence in New York regarding the interpretation of commercial contracts. Further, New York, as a financial Mecca and strong adherent to the “no prejudice” rule, had become a target for policyholders seeking to erode that rule. These decisions put to rest any doubt about the direction of New York late notice law.
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.
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.
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.