Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
UCC ' 1-203: A Few Lesser (and Not Always Lessor) Known Pitfalls
Can a lease with a 10% purchase option ever not be a true lease? Most lessors know the answer is “yes.” A simple three-year forklift lease is a good example. Surely both the lessee and lessor would predict, at the time the lease is written, that the equipment will be worth far more than 10% after three years. The transaction therefore would fail to pass the nominality test under ' 1-203 of the Uniform Commercial Code (“UCC”) and would be deemed a security agreement. Simple enough.
So can a lease with a fair market value (“FMV”) purchase option ever not be a true lease? Some lessors would say “yes,” but probably many more would say “no,” or at least would hedge and say “I don't think so.” The correct answer, though, is “absolutely yes.”
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?