Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Credit Applications
Many lessors require or should require their lessees to fill out a credit application. At its most basic, the credit application provides an introduction of the potential lessee to the potential lessor ' both as to its legal organization as well as its financial ability to fulfill its obligations under a lease. Although credit applications assist lessors in making these credit decisions, the lessor should make sure that it avoids the pitfalls of the Equal Credit Opportunity Act ('ECOA') and that the financial information it obtains through the credit application is stored appropriately to avoid liability under various state laws regulating the storage of private financial information. This article discusses the components of a good credit application, the requirements of the ECOA, and the best practices for storing private financial information.
The Credit Application
A credit application can be the initial offer or the initial acceptance that creates the contract between lessor and lessee. A well-drafted credit application should set forth the terms under which the lessor is willing to do business with the lessee. Where a credit application is signed by the lessee, it can also be the demonstration of 'acceptance' of the terms and conditions set forth on the credit application. The requirement that a completed credit application must be furnished prior to entering into the lease provides an incentive to the potential lessee to provide information that it may be reluctant to provide in the future. This incentive gives the lessor the ability to gather information not only to determine the lessee's creditworthiness, but also to gather information that may be useful in the future if collection efforts become difficult.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.