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Features
It is fairly well established in many courts across the United States that "late notice" of a claim under an occurrence-based commercial general liability ("CGL") policy presents a problem for insureds only when it "actually" and "substantially prejudices" an insurer. In light of that standard, insurers appear to face high hurdles if they rely on notice issues to avoid coverage. At the very least, it seems that the question of prejudice is highly factual and thus should be preserved for a jury to decide.
The scams often involve tricking attorneys into an engagement letter. Losses result from lawyers' frequent misunderstanding of banking regulations, which permit a bank to advise that "funds are available" before a check actually has cleared.
Features
Highlights of the latest franchising news from around the country.
Features
Highlights of the latest franchising cases from around the country.
There is an insidious trend developing in the franchise sales arena: Lawyers are being sued when bad things happen to a franchisee as a result of alleged defects or misdeeds in the franchise sales process. The problem, as so often is the case, is defining the boundaries to which the lawyer must adhere. I am particularly troubled about this trend to expand the boundaries beyond historical expectations.
The Supreme Court of Ohio recently held that a court cannot make a subjective inquiry into a gasoline distributor's motives in setting price levels where the prices were both commercially reasonable and nondiscriminatory, notwithstanding the plaintiffs' allegations that the prices were set at a level to try to force them out of business.
Features
The third-quarter results of Nassau Asset Management's NasTrac Quarterly Index ("NQI") show a decline in trucking and machine tool repossessions, as compared with the same quarter last year, while construction and printing equipment repos continued to rise.
It is becoming more burdensome under the Obama administration for leasing companies to do business as federal government contractors. In addition to maintaining an Affirmative Action Plan with accompanying statistics, reports, and logs, contractors will now be required to post a notice informing employees of the right to organize a union under the National Labor Relations Act and be required to use the federal E-Verify system to authenticate the identity and employment eligibility of job applicants and employees.
On Sept. 18, 2009, the Canadian government enacted significant Amendments to Canada's Bankruptcy and Insolvency Act and Companies' Creditors Arrangement Act. This article focuses on certain of the Amendments to which equipment financiers should pay particular attention as they may impact how equipment financiers transact business.