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Dealer Protection Statutes Level the Playing Field for Heavy Equipment Dealers
Dealers who sell and lease expensive heavy equipment, and therefore those who finance them, are often at the mercy of the manufacturers whose products the dealers sell or lease. Disparities in bargaining power between a local equipment dealership and a national or international manufacturer can force the dealership to accept unfair or oppressive terms. And if the manufacturer arbitrarily terminates the dealership agreement, the thriving business that the equipment dealer built can be totally ruined, often with little or no legal recourse, thereby also putting those who finance the dealer at peril.
Recognizing the need to level the playing field, some states have enacted laws to protect equipment dealers from arbitrary cancellation of dealership agreements. These laws often cover dealers in equipment and machinery used in the construction, forestry, maritime, mining, and other industries. Several states ' Virginia, Delaware, Georgia, Maryland, Mississippi, Tennessee, and West Virginia ' have laws that prohibit a manufacturer from terminating an equipment dealer without good cause and an opportunity to cure. Garner, 2 Franchise and Distribution Law and Practice, '16:5 (Thompson/West 2005). These dealer protection statutes take various forms. Some states require manufacturers to repurchase the dealer's inventory after termination; others require the manufacturer to compensate the dealer for the value of its premises. Id. In one form or another, '[t]hirty-five states have statutes protecting dealers in farm equipment and similar heavy equipment.' Id.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.