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Non-Reliance Disclaimers and Anti-Waiver Provisions
A number of conflicting decisions over the past year and a half concerning whether provisions prohibiting waiver of duties or liabilities under the New York Franchise Act prohibit franchisors from interposing franchisee “non-reliance” franchise agreement disclaimers when confronting fraud actions brought under the Act makes clear that this critical area of law will remain muddied until New York's appellate courts, and conceivably the Court of Appeals, decisively rule on the subject.
“Non-reliance” franchise agreement disclaimers are provisions in a franchise agreement, pre-signing questionnaire or separate writing (letter, franchisee “acknowledgement” or franchisee attestation) in which a franchisee acknowledges that, other than representations set forth in the franchisor's Franchise Disclosure Document and franchise agreement, the franchisee did not rely on any representations that may have been made in the franchise sales process regarding a specific subject or subjects, most commonly financial performance representations (how much money, on average, franchised or company-owned units gross or net) or guarantees of success.
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.
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.
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.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.