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When a Factor Has Not Approved Orders
Consider the plight of a manufacturer of women's blouses who sells her finished product to every major department store and specialty store chain in the country. One of her highest-volume customers is a 150-store chain of upscale boutiques located in the metropolitan areas of the largest cities in the United States. Let's call the manufacturer “Better Blouses, Inc.” and the boutique chain, “Le Boutique” (both names are fictitious and any resemblance to actual business names is purely coincidental). Better Blouses' New York salesman has taken orders from Le Boutique for the Spring line at his New York Showroom; $3,000 per store. A nice order totaling $450,000!
When Better Blouses received the order confirmation, the company's credit manager advised her factor, who gave a tentative approval of the credit. Piece goods and trim were ordered, the goods were put into work and the complete order was ready to be shipped when the factor called and advised that the credit approval had been withdrawn. Panic set in.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.