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New York's No Prejudice Rule
New York law has traditionally been more faithful than that of many jurisdictions to the principle that an insurance contract, like any other, is “to be construed according to the sense and meaning” of its terms and, if those terms are clear and unambiguous, they are to be “taken and understood in their plain, ordinary, and proper sense.” Preston v. Aetna Insurance Co., 193 N.Y. 142 (1908).
As the New York Court of Appeals once more colorfully put it, “Unless we are prepared to adopt the theory of the cynic that language was invented for the purpose of concealing thought, we have no right to disregard the clear provisions which defendant inserted in the policy and which plaintiff accepted.” Johnson v. Travelers Insurance Co., 269 N.Y. 401 (1936). This respect for the written word in the contract of insurance has resulted in New York's rule that an insured which breaches a policy condition is barred from recovery in the same manner as any other contracting party which breaches
a condition of a contract, without any attendant requirement that the insurer demonstrate prejudice as a result of the breach. As succinctly stated by Justice Cardozo, “When the condition was broken, the policy was at an end[.]” Coleman v. New Amsterdam Casualty Co., 247 N.Y. 271, 277 (1928).
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.