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Dealing with the Risk of Events of Force Majeure
Force majeure clauses are used in leases to extend the date upon which a party's performance of an obligation is due. Often such obligations pertain to the delivery of the building and/or leased premises. This article explains and discusses sample force majeure clauses and suggests ways to protect the party not claiming a delay caused by an event of force majeure.
What Are Permissible Force Majeure Events?
A force majeure event is an event beyond the control of the landlord or tenant (as the case may be) that delays, interrupts, or prevents a party from acting. Such events generally include acts of God, war, insurrection or terrorism, governmental controls or regulations that limit essential services or delay the issuance of building permits or other construction approvals, fire or other casualty, and/or an inability to obtain materials or labor due to a strike or labor dispute. These are events that are both unforeseeable at the time the lease is negotiated and cannot be prevented.
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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.
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Legal Possession: What Does It Mean?
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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?