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New Contracts in Kansas Can No Longer Contain Commonly Used Liability Indemnity Provisions
The 2008 Kansas Legislature passed a statute that declares void as against Kansas public policy long-standing contract risk-allocation provisions in many commercial contracts ' including franchise and dealership contracts. The story begins in 2004, when the legislature enacted a prohibition against liability indemnity provisions in construction contracts. After several years of discussions, lawmakers passed a new statute, which amends K.S.A. '16-121, to prohibit indemnity, additional-insured, choice-of-law and forum-selection provisions in a broad array of Kansas construction, manufacturing, transportation, dealership, and franchise contracts (collectively defined by the statute as “Contracts”) entered into after Jan. 1, 2009. As described below, certain aspects of the statute may also apply to contracts entered into before that date.
Common Provisions
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.
'Insurable Interest' and the Scope of First-Party Coverage
This article reviews the fundamental underpinnings of the concept of insurable interest, and certain recent cases that have grappled with the scope of insurable interest and have articulated a more meaningful application of the concept to claims under first-party property policies.