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Recent Developments in Enforcement of Forum Selection Clauses
Forum selection clauses are an important contractual tool for equipment lease finance companies. Such provisions allow a lessor, among other things, to institute all collection actions in a single jurisdiction. The result is reduced legal fees and costs, better predictability of results, and a lower risk of “home town” verdicts based upon factors other than a neutral application of the law. In short, judicial enforcement of forum selection clauses lowers the cost of leasing.
In the recent case of Financial Planning Alternatives, Inc. v. De Lage Landen Financial Services, Inc., 2012 WL 2588553 (Mass. App. June 28, 2012), the court affirmed a trial court's dismissal of a lessee's tort and consumer protection claims on the grounds that the lawsuit was brought in the wrong jurisdiction. The court observed that Massachusetts courts generally enforce forum selection clauses, even when included in so-called “contracts of adhesion.” Accordingly, plaintiff was bound by the contract's selection of a Pennsylvania forum.
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.