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In re Rafter Seven Ranches L.P. (Rafter Ranches L.P. v. C.H. Brown Company), 2008 WL 4787106 (U.S.Ct.App. 10th Cir. Nov. 4, 2008). A divided Tenth Circuit panel affirms the decisions of a bankruptcy court and bankruptcy appellate panel that a lessee of irrigation sprinkler systems was liable for unpaid rentals on its leases despite the facts that the systems supplied by a company chosen by the lessee did not conform to specifications of the equipment in the leases and, in the case of some of the equipment, was never used after the lessee inspected it and determined it to be “junk.” The primary basis for finding liability with respect to the unused equipment was that the lessee failed to notify the lessor of its rejection of the equipment in a reasonable period of time as required by Article 2A ' letting the equipment sit in the fields for six weeks before notifying the lessor. The dissent argues, to the contrary, that a reasonable opportunity to inspect should include an opportunity to test, which in the case of the “junk” would have been futile. The majority had also noted that the lessee authorized the lessor to pay the supplier before the equipment was delivered and agreed that it would look only to the supplier in the event the equipment was defective. Whether such promises would obligate the lessee to make all lease payments owing under the leases ' under contract law if not under Article 2A finance lease provisions requiring a reasonable opportunity to inspect ' even if prompt notice of nonconformity was given, is not made clear.
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.
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 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 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.
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.