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When commercial landlords and tenants negotiate commercial lease agreements, the normal focus of their efforts is the essential conditions of the tenancy ' rent amount, lease term, option periods, and the like. Often overlooked, however, are those provisions generally considered 'standard boilerplate.' <i>Force majeure</i> clauses, in particular, are frequently viewed as miscellaneous paragraphs not worthy of lengthy consideration or discussion. Unfortunately, the pitfalls of a failure to carefully negotiate the force majeure provision of a commercial lease are often realized when a true catastrophic event occurs. In such situations, the tenant may be least able to withstand any additional hardship and needs the protection that a well-drafted force majeure provision can afford. At the same time, owners of commercial real estate that have suffered through the recent catastrophic and tragic events such as the terrorist attacks of 9/11 and hurricanes Katrina and Rita unquestionably have learned all too well that the force majeure clauses of their leases may be the only means of ensuring invaluable protections if or when a catastrophic event does occur.
Management guru and author Peter Drucker said, 'If you can't measure it, you can't manage it.' So why is it that so few law firms measure their marketing efforts? Why is it that so many Chief Marketing Officers (CMOs) who are getting hammered by partners to demonstrate ROI on their efforts can't do it?
Debtors in bankruptcy cases have long sought to make distributions to old equity without running afoul of the absolute priority rule. Time and again, debtors' efforts to leave old equity with value in a reorganized entity have been challenged in the appellate courts, and often in the Supreme Court. A proposed distribution to old equity in the complex Armstrong World Industries (AWI) case was struck down recently by the U.S. Court of Appeals for the Third Circuit Court. <i>In re Armstrong World Indus., Inc.</i>, 432 F.3d 507 (3rd Cir. 2005).
Generally speaking, after a bankruptcy filing, executory contracts are not enforceable against a debtor that has not yet assumed the contract. <i>N.L.R.B. v. Bildisco and Bildisco</i>, 465 U.S. 513, 531 (1984). However, the reverse is not true. During the pre-assumption period, the non-debtor party to the contract is presumed to be obligated to perform in accordance with a contract.
Features
Last month's article by Todd Nugent on improved cost recovery from multi-function devices alluded to savings made possible by embedded technology. This article elaborates on the advantages of embedded processing.
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Because information has become increasingly easy to obtain and transfer, employers must take precautionary measures to ensure that confidential data is adequately protected. This applies not just to proprietary business information, but also to confidential employee data. <br>This article provides an overview of statutory, constitutional and common law concerns with res-pect to obtaining and maintaining confidential employee information, and penalties that employers may face for failing to protect the security of confidential employee records.
You've read about it, you've heard about it, but let's say it again: Your employees, on their own or in collusion with others, can make your firm a victim of fraud. Understanding how fraud takes place can help you and your clients minimize its possibility; yet statistics show that many businesses do not understand fraud and do not recognize its red flags.
Features
Recent rulings of interest to you and your practice.
Most of us who have had some experience with 'Hague' cases typically become involved only after children have been transported to or from the United States by one parent. Unfortunately, our clients living here or abroad rarely seek legal advice before their spouses travel internationally with the couple's children, leaving the client behind. Of course, many parents leave clandestinely with their children, thus rendering it impossible for the remaining spouse to seek preventative legal advice. However, we need to be prepared to offer advice prospectively.This article addresses the 'retention' issue.