Corporate and Financial Weekly Digest - February 10, 2012


In this issue;

- CFTC Rescinds CPO Registration Exemption; Adopts Additional Reporting Obligations

- CFTC Revision of Rule 4.5 Requires Advisers to Certain Registered Investment Companies to Register with the CFTC; CFTC Separately Proposes to Harmonize Investment Company Rules with SEC Requirements

- Incomplete and Unfinished Documents May Satisfy Statute of Frauds

- Courts Lack Jurisdiction To Review Determinations By Arbitration Panels Under the Railway Labor Act

- France Proposes Financial Transaction Tax

An excerpt from "Incomplete and Unfinished Documents May Satisfy Statute of Frauds"
The U.S. Court of Appeals for the Fifth Circuit recently held that documents referenced in an agreement may satisfy the statute of frauds even if those documents are not finalized. Preston Exploration Company entered into three agreements with Chesapeake Energy Corporation for the sale of certain oil and gas leases. The specific leases to be conveyed were not set forth in the body of the agreements, but rather were referenced in the agreements as being defined in the attached exhibits. Drafts of the exhibits were circulated with the draft agreements and, although it was clear that the exhibits were not finalized, the agreements were executed by Chesapeake without protest.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:


Katten Muchin Rosenman LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.