'Customary Operations' or A Vacant Building?
Many times, courts are faced with the question of whether a loss location is 'vacant' under a commercial property policy when trying to determine if the building owner or lessee is conducting customary operations. This article explores various decisions across the United States as to what is considered 'customary operations,' thereby rendering the property 'vacant.'
Case Notes
Analysis of a case in which a California Court of Appeal affirmed the right of a shopping center owner to limit the First Amendment rights of citizens from being exercised near store entrances.
The Difference in Due Diligence for Franchisors
In any business purchase, investment, merger or acquisition, several threshold questions come to mind. What assets are being acquired? Where is the value in the target company? What liabilities are being acquired? How should these be valued for pricing and future growth? What will the acquirer do with the target company? How far can management take the new target?
Good News, Bad News: Credit and Collections
The robust economy's low default rate has many creditors rethinking their collections practices and capabilities. But what should be their strategy for when the good times end?
DE Dealer Statute Only Covers New Equipment
Suppliers only have to repurchase new, unused equipment from dealers under Delaware's Equipment Dealer Contracts Statute, the state Supreme Court has ruled in answering a question certified from the Third Circuit.
Like Kind Exchange for Equipment Lessors
If you dispose of an business asset and subsequently reinvest your sales proceeds to acquire a "like-kind" replacement asset of equal or greater value, then the recognition of taxable gain (along with the lessor's obligation to pay tax on that gain) is deferred until the replacement asset is sold or, in the case of subsequent follow on exchanges, until the replacement's replacement asset is sold in a taxable disposition.
How Do You Know When Your Loss Ensues?
The effect an ensuing loss provision is that ensuing losses stemming from uncovered events will be covered, as long as such losses would otherwise be covered under the policy. Consequently, an understanding of the provision is vital to commercial property landlords and tenants.
Enforceability of Co-Tenancy Remedies
On Jan. 12, 2015, a California Court of Appeal held unenforceable a co-tenancy provision in a retail lease that allowed the tenant to accept possession of the premises but thereafter have no obligation to pay rent or open for business, even though the provision had been negotiated by two sophisticated parties with leasing expertise.
