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Casualty: A Tenant's Perspective
When a fire or other casualty damages a tenant's premises, especially when the premises is part of a larger retail facility like an enclosed regional mall, the rights outlined in the tenant's lease will dictate how the casualty is handled, including, without limitation, determining what obligations the landlord and the tenant have in the reconstruction of the premises, how long a landlord and a tenant will have to perform their work in order to rebuild the premises, any rent abatement that will occur and any termination rights that either the landlord or the tenant will have based upon the casualty. This article examines a tenant's perspective with regard to those topics, and offers certain insights into how a tenant should draft its lease in order to protect itself in the event of a casualty situation.
Landlord's and Tenant's Tasks Following a Casualty
Once a casualty occurs, and if neither the landlord nor the tenant terminate the lease (as discussed later in this article), both will typically each look toward their insurance company in order to reimburse them for the loss caused by the casualty. This concept is important because in a typical lease situation, where the lease form is most often drafted by the landlord, the landlord's obligation to commence its reconstruction efforts will be triggered by the landlord's receipt of insurance proceeds from its insurance company. However, the tenant's reconstruction obligation is most often triggered by the completion of the landlord's work and the landlord's delivery of the premises back to the tenant.
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?