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Construction Contracts and Project Management
Whether designing and constructing a new retail center, a tenant finish-out or a renovation project, retail real estate developers, property managers and tenants interact with construction contracts, contractors, architects and other construction industry professionals on a regular basis. Those interactions may include lengthy, sophisticated contracts, very basic contracts or no written contract at all. Regardless, there are certain issues that could arise in almost any construction project. This article addresses some of these common issues from the perspective of protecting the owner of the project.
What Is the Industry Standard Contract?
While various industry groups have developed their own versions of standard contracts, there is no universally accepted form of construction contract. The American Institute of Architects (AIA) actively promotes its form contract documents. These documents are commonly known as “AIA documents,” and are denoted by various numbered and dated versions. These different versions are geared toward different construction situations. Most contractors and architects are familiar with the AIA form documents to some degree. However, an owner should not rely on the architect or contractor alone to interpret the contract. Even architects sometimes assume that similar provisions are the same in all AIA documents, when in fact, modification of these and any form contract document is certainly not unusual, and often may be necessary in order to meet financing or other project-specific requirements.
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.
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.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?