Double Duty: UCC Definition of Goods Same for ' 503(b)(9)
December 18, 2009
As most practitioners know, the Bankruptcy Code imposes a specific priority scheme that controls the payment of claims. The higher the priority of a particular claim, the more likely it is to be paid. Generally, secured claims are paid first from the specific collateral backing that claim, followed by administrative priority claims, unsecured priority claims and then general unsecured claims. Equity takes last, assuming there is anything left.
The Law of Unintended e-Consequences
December 18, 2009
Everyone who has ever worked on a tech project, whether in e-commerce or general business, has probably seen situations in which an assumed solution creates a bigger mess than the original problem. It's called <i>the law of unintended consequences.</i> A recent federal appellate ruling shows how this rule can work in the law.
Sometimes Hell Does Freeze Over
December 18, 2009
The recent decision in <i>Reliastar Life Insurance Co. of New York v. Home Depot U.S.A., Inc.</i> illustrates once again the limits of a purchaser's or lender's ability to rely on an estoppel certificate, especially when a tenant is entitled to claim constructive eviction. Moreover, the court determined that constructive eviction would trump a "hell or high water" commitment to pay rent.
Representing Tax-Exempt Organizations in Lease Negotiations
December 18, 2009
While a typical for-profit client may have experience with lease negotiations or the benefit of an experienced broker, often the tax-exempt organization will not have this advantage and may, therefore, rely more heavily upon its attorney.
In the Spotlight: Ordering Title Searches When Negotiating a Lease
December 18, 2009
Did you ever think it was good practice to order a title search when your client contemplated putting in expensive improvements or in other situations where the lease may have value? It may never have crossed your mind that the failure to discuss this option with your client could amount to professional malpractice ...
Mitigation Under a Commercial Lease
December 18, 2009
Lawyers are celebrated for their ability to employ subtlety and finesse. However, when addressing a commercial landlord's duty to mitigate damages upon a tenant's default, it pays to be blunt.
Court Watch
November 30, 2009
Highlights of the latest franchising cases from around the country.
Appellate Court Declines Look at Subjective 'Good Faith' in Contract
November 30, 2009
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.
Trucking and Machine Tool Repos Decline In Q3
November 30, 2009
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.
