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UCC ' 1-203: A Few Lesser (and Not Always Lessor) Known Pitfalls
Can a lease with a 10% purchase option ever not be a true lease? Most lessors know the answer is “yes.” A simple three-year forklift lease is a good example. Surely both the lessee and lessor would predict, at the time the lease is written, that the equipment will be worth far more than 10% after three years. The transaction therefore would fail to pass the nominality test under ' 1-203 of the Uniform Commercial Code (“UCC”) and would be deemed a security agreement. Simple enough.
So can a lease with a fair market value (“FMV”) purchase option ever not be a true lease? Some lessors would say “yes,” but probably many more would say “no,” or at least would hedge and say “I don't think so.” The correct answer, though, is “absolutely yes.”
But now, can a lease with no purchase option ' a lease with an end-of-term provision specifically denying the lessee an option to purchase and requiring the lessee to return the equipment ' ever not be a true lease? On this question, many lessors would say “absolutely no.” And again, they would be absolutely wrong.
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.