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Dealer Protection Statutes Level the Playing Field for Heavy Equipment Dealers
Dealers who sell and lease expensive heavy equipment, and therefore those who finance them, are often at the mercy of the manufacturers whose products the dealers sell or lease. Disparities in bargaining power between a local equipment dealership and a national or international manufacturer can force the dealership to accept unfair or oppressive terms. And if the manufacturer arbitrarily terminates the dealership agreement, the thriving business that the equipment dealer built can be totally ruined, often with little or no legal recourse, thereby also putting those who finance the dealer at peril.
Recognizing the need to level the playing field, some states have enacted laws to protect equipment dealers from arbitrary cancellation of dealership agreements. These laws often cover dealers in equipment and machinery used in the construction, forestry, maritime, mining, and other industries. Several states ' Virginia, Delaware, Georgia, Maryland, Mississippi, Tennessee, and West Virginia ' have laws that prohibit a manufacturer from terminating an equipment dealer without good cause and an opportunity to cure. Garner, 2 Franchise and Distribution Law and Practice, '16:5 (Thompson/West 2005). These dealer protection statutes take various forms. Some states require manufacturers to repurchase the dealer's inventory after termination; others require the manufacturer to compensate the dealer for the value of its premises. Id. In one form or another, '[t]hirty-five states have statutes protecting dealers in farm equipment and similar heavy equipment.' Id.
The Recent Virginia Decision
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.
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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?