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'I Thought I'd Seen It All with Rights of First Refusal, But I Was Mistaken'
This article shares an actual recent dispute in which a landlord claimed there was a mutual mistake in the material terms of a right of first refusal after the proper exercise of such right and acceptance of such material terms by its tenant.
Background
Earlier this year, a client (“Tenant”) called our office asking for assistance in connection with a right of first refusal on certain property it leased. Tenant's lease included the following customary language:
Tenant shall have the pre-emptive right during the term of this Lease to purchase said premises on the same terms and conditions as those of any bona fide offer received by and acceptable to Landlord, and Landlord, before making any sale or any agreement to sell, shall notify Tenant in writing of the amount of the proposed purchase price, a copy of the purchase contract and all other terms and conditions of such offer.
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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.