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Is "equity" more powerful than enforcing the terms of a renewal lease option in a lease between two sophisticated business entities? In <i>135 East 57th Street LLC v. Daffy's Inc.</i>, the Appellate Division, First Department, signaled that it is.
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When is a franchisor's control over a franchisee so great that the franchisor risks being held vicariously liable for the actions of its franchisees?
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Although landlords do not want excess space to lease in a down market, there may be benefits to the landlord of a steady long-term income stream that offsets the impact of additional vacancy. In sum, for each side an early lease restructure may make sense.
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A landlord generally does not want to impose obsolete or otherwise nonsensical requirements on its tenant, and a tenant generally does not want to promise to do things that are impossible. But both can regularly be found in lease insurance provisions.
In 2008, the Uniform Law Commission and the American Law Institute set to work on evaluating and improving Article 9. A set of amendments which were completed in May 2010 by the ULC and the ALI reflecting these efforts is ready for consideration by state legislatures. This article discusses some of the troublesome issues that prompted the work of these commercial law grandees and the solutions contemplated by the 2010 amendments.
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Highlights of the latest insurance cases from around the country.
With the cost and frequency of product recalls on the rise, many companies are considering purchasing specialty policies to cover certain recall-related losses that are often excluded from general liability and property policies. Few cases provide guidance about how such policies will be interpreted and applied by the courts, but some recent decisions highlight limitations on their scope of coverage.
This article provides an overview of case law holding that insurance companies are obligated to provide coverage for false advertising claims, particularly under the advertising injury section of a CGL policy. In doing so, the article discusses the general framework for advertising injury coverage under CGL policies and the inapplicability of certain exclusions sometimes asserted by insurers to deny coverage.
Today, law firms need focused strategic plans to enhance revenue, efficiency in the delivery of services, cost control, and timekeeper accountability.