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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.”
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.