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This article outlines the requirements for providing notification of a security breach under state security breach notification laws by any company and the factors that a public company needs to take into account regarding whether to disclose a security breach under federal securities law.
A Florida intermediate-level appellate court has held that a lessee is not relieved of its payment obligations when it discovers that it cannot lawfully utilize the leased equipment in the manner it intended. <i>De Lage Landen Financial Services, Inc. v Cricket's Termite Control, Inc.</i> While the writer is aware of similar results reached in other unreported Florida actions, this decision, the first reported decision in Florida, not only will provide assistance in dealing with similar scenarios but also exhibits the strength of standard lease clauses.
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In 2005, the Superior Court of Rhode Island held that '44112 of Title 49 of the U.S. Code did not protect the owner and lessor of an aircraft from vicarious liability for negligence of a lessee of the aircraft. <i>Coleman v. Windham Aviation Inc.</i> In light of the decision in Windham (and others discussed below), owners, lessors, of aircraft must be aware of the possibility that a state court may very well impose vicarious liability.
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Highlights of the latest commercial leasing cases from around the country.
Recent rulings of interest to you and your practice.
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In last month's issue, we began an analysis of case law that followed the seminal decision in <i>Christian v. Christian</i>, 42 NY2d 63 (1977), in which the Appellate Division declared that a marital agreement can be set aside if it is 'manifestly unfair,' even if a similar contract between parties in a less 'fiduciary' relationship would be upheld. Part Two provides further guidance on this issue.
A commercial real estate attorney representing a client that needs title insurance in a commercial real estate transaction must consider which endorsements would be best to provide the client with all the necessary title insurance protection. The first part of this series discussed which American Land Title Association endorsements are typical when representing a buyer, tenant, or lender in an acquisition or lease of commercial property. The conclusion addresses Lender Only Endorsements.
In early sale transactions, particularly those involving lifestyle shopping centers, the seller may be faced with the prospect of closing the transaction prior to the date on which each of the tenants' opening co-tenancy conditions have been satisfied. As a result, the project is not generating its maximum level of income, thereby resulting in a lower income stream for the purchaser at closing. To avoid a reduction in the purchase price as a result of such opening co-tenancy rental relief, the seller can make post-closing payments to close this income gap.
Changing a child's surname in the Civil Court should not be a Sisyphusean task, and generally it is not, if the child is not born out of wedlock; then, both parents can simply petition the civil court either through counsel or pro se. The change is made with a judicial stroke of the pen, in just a few weeks. Generally, these types of name changes are relatively simple because they do not affect parental or substantive rights, such as custody and visitation, child support and inheritance.
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The broker provision of a lease should acknowledge the broker or brokers entitled to compensation and provide representations that the parties have not worked with any other broker in connection with the lease. Typically, the parties also agree to indemnify each other for violating these representations.