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What's New in Leasing Law
Ability to Collect Rentals
Republic Bank v. AMTEC Precision Products, 2007 WL 2220521 (U.S. Dist Ct. D. Utah July 27, 2007): Although not a decision predicated upon principles of leasing law or waiver of defenses, this case illustrates the absolute obligation of a debtor/ lessee under a progress payment agreement intended to lead to a leasing arrangement.
The debtor/lessee had signed both a master progress payment agreement and a master lease agreement pursuant to terms under which the former obligations would be transformed into the latter only upon the execution and delivery of a 'final' acceptance and delivery certificate. After a number of progress payments had been made to vendors, with respect to which the debtor/lessee executed 'partial' acceptance and delivery certificates, the original lessor/ lender (apparently servicing the transaction on behalf of its assignee) demanded repayment in full due to an alleged default under the documents related to the debtor/ lessee's deteriorating financial condition. The debtor/lessee attempted to argue that the last executed partial acceptance and delivery certificate should have been treated as a final certificate and therefore that its future obligations should consist only of ordinary periodic payment obligations under the lease. This court holds, however, that the documentation does not support such a conclusion and that progress payment obligations and related charges could be accelerated.
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.
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?
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.