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In the Marketplace
Chrysler Financial of Farmington Hills, MI has announced that it will cease leasing in Rhode Island beginning Aug. 1, 2005, if the current vicarious liability legislation passed by the state legislature 2 years ago lapses without being renewed by June 30, 2005. The company noted that if the current law lapses, Rhode Island will be left with an unlimited vicarious liability law that holds the “owner” of a motor vehicle responsible for personal injury and property damage caused by the driver of a leased vehicle, regardless of any fault or responsibility of the leasing company. With leasing, the finance company holds the title to the vehicle and therefore has significant exposure under the unlimited vicarious liability statutes. In 2004, Chrysler Financial ceased leasing in New York due to the state's unlimited vicarious liability law.
Applied Financial of Midvale, UT has named James L. Christensen as president of the company. He previously worked with the company since its inception as general counsel. The company also announced a new $25 million operating line with Wells Fargo Bank, which will give Applied Financial enhanced direct lending capabilities, as well as a significantly lower cost of funds. Dave DiCesaris, who formerly carried the title of president and CEO, will continue to function as CEO, focusing his efforts on new growth strategies and initiatives.
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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
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.