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Property Condition Disclosure Act: The First Published Court Test
The Property Condition Disclosure Act (PCDA), which became effective on March 1, 2002, requires a seller of residential real property to deliver to a buyer a Property Condition Disclosure Statement (PCDS) before the buyer signs a binding contract (Real Property Law, sec. 462). In Malach v. Chuang (see page 8), infra, a Richmond County Civil Court judge construed ' for the first time ' the remedy provisions of the statute (R.P.L. sec. 465).
Facts Proven At Trial
The sellers gave the purchasers a PCDS answering 'unknown' to question 20 regarding rot to structures. In fact, they answered 'unknown' to 30 of the 48 questions. The purchasers hired an inspector to check the structures, but that inspection did not include the in-ground swimming pool (placed mostly above ground). When the deck was removed after the closing, the purchasers noticed that the main supports and the body of the pool had rot, which if left untreated, would cause the pool to collapse. The existence of the rot was not easily discoverable upon reasonable observation. The judge found that the evidence supported the sellers' claim that they did not have actual knowledge of the condition of the pool because it was not visible prior to their giving the PCDS.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?