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Supreme Court Deadlock over Spousal Guaranties Will Continue to Affect Costs of Equipment Financing
This article is a follow-up to my September, 2015, review of best practices for obtaining spousal guaranties in equipment financing transactions in light of the Supreme Court's decision in Hawkins v. Community Bank of Raymore . See “Supreme Court to Focus Legal Spotlight on Spousal Guaranty Issues: Lenders Should Make Sure They Are Prepared,” http://bit.ly/1TdT54L.
Since Justice Scalia's death, for the first time the Supreme Court deadlocked in a 4-4 decision involving a claim under the Equal Credit Opportunity Act (ECOA) on the issue of whether spousal guarantors have the same rights and protection that their applicant spouses are given by the ECOA. The Supreme Court's deadlock leaves the circuit split on this issue between the U.S. Courts of Appeal for the Sixth and Eighth Circuits intact. As a consequence, equipment lessors and lenders need to be aware of the patchwork state of the law and federal law, and the potential ramifications on their credit and collection decisions and issues of lender liability.
Background
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.