'Buy/Burn/Return' May Violate Copyright Law
November 29, 2005
Buy It, Burn It, Return It" is the policy recently adopted by a record chain in New Jersey. A radio ad for another retail store states: "You find it, you buy it, you burn it. What, I mean, not really burn it. You know. Put it in your iPod or MP3. And then sell it back. That's right: we'll buy your CDs back." The retailer can then sell the recording as used, over and over again, buying it back for less than the selling price and profiting perhaps even more than by selling it only one time. <br>The problem with these "new" record-retail tactics is that they clearly violate the rights of sound-recording and musical-composition copyright owners to control the rental distribution of their works.
Katrina and the New Insolvency Law
November 28, 2005
Though Hurricane Katrina may flood bankruptcy courts with new filings from its victims, experts differ over whether the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which took effect in October, will blow away small businesses in the Gulf Coast region.
State Licensing: A Trap for the Unwary?
November 02, 2005
Unlike consumer lenders and real estate mortgage brokers, lessors of business equipment have generally enjoyed freedom from state licensing requirements. A survey of state laws presented at this year's Equipment Leasing Association Legal Forum, however, has revealed that certain state licensing requirements do exist for commercial lessors, especially where motor vehicle leasing is concerned. This article describes certain of these requirements and highlights some of the areas in which there are statutes pertaining to licensure; the reader is advised to check the law in each state where he or she is doing business and never take freedom from licensing for granted.
California Supreme Court Strikes Down Jury Waiver Clauses
November 02, 2005
The California Supreme Court has thrown a wrench into the California trial courts' long-accepted practice of enforcing contractual jury waivers by holding that such pre-dispute waivers do not effectively supersede a party's constitutional right to a jury trial. The court's conclusion is not surprising given the express provisions of the California Constitution, but it nonetheless sent a shockwave through the finance and leasing community.
In the Marketplace
November 02, 2005
Highlights of the latest equipment leasing news from around the country.
Letters of Intent to Lease: Valuable for Landlords and Tenants
November 01, 2005
Landlords and tenants occasionally ask whether they should bother to negotiate and execute a letter of intent to lease. Many wonder whether it might be more efficient to launch right into negotiating the lease itself. The investment in negotiating a letter of intent to lease will almost always pay quick dividends for landlords and tenants. The dividends may be in the form of an early discovery of a lack of agreement on an important issue that will allow the parties either to resolve it quickly or decide to terminate further negotiations and part ways. The more details sorted out during the letter of intent phase, the greater the likelihood of a smoother and successful consummation of the lease. Finding the proper balance of detail to include at the letter of intent phase is often a function of the nature and size of the transaction and the sophistication and leverage of the parties involved. This article is intended to help landlords and tenants consider what they may want to include in their letters of intent to lease.
The Leasing Hotline
November 01, 2005
Highlights of the latest commercial leasing cases from around the country.
