News & Analysis as of

Choice-of-Law

Portuguese courts consider the enforceability of derivatives

by DLA Piper on

Within the last few years, derivatives have been under scrutiny by Portuguese courts, affecting not only derivatives entered into under agreements subject to local law, but also derivatives subject to International Swaps and...more

California and Georgia disallow jury trial waivers

by DLA Piper on

Commercial lenders tend to perceive jury trials as disadvantageous when resolving conflicts between them and their borrowers. Alternative dispute resolution, such as binding arbitration, has proved to be an unsatisfactory...more

One Year of the Defend Trade Secrets Act

May 16, 2017 marked the first anniversary of the Defend Trade Secrets Act. What has the year taught us about this new federal cause of action for trade secret misappropriation? Here are the top 13 lessons from the first...more

Reassessing Contractual Jury Waivers Under Rincon EV Realty LLC v. CP III Rincon Towers, Inc.

by Weintraub Tobin on

Orange County is a hotbed for development and real estate. Lenders work hand-in-hand with real estate professional to make these deals happen. When using out-of-state financing, contractual jury waivers are commonplace. Under...more

What State’s Law Applies To A Non-Compete Agreement And Why Does It Matter?

by Fox Rothschild LLP on

Employers frequently require employees to sign confidentiality and non-competition agreements. In most jurisdictions, these agreements are both lawful and prudent provided that they are carefully drafted. In my...more

Nationwide Class Claims Under A Single State’s Consumer Protection Laws?

by Carlton Fields on

A flurry of recent consumer protection cases in California federal courts led to mixed results for defendants attempting to dismiss nationwide class claims based on the state’s choice of law rules. The U.S. District Court for...more

California Court Foils Attempt to Avoid Prohibition on Pre-Dispute Jury Waivers

by McGuireWoods LLP on

While most states permit parties to waive the right to a jury trial by contract before a dispute arises, the California Supreme Court held over a decade ago that California is not one of them. Recently, a California court...more

M&A Indemnification Provisions: Are You Drafting Unenforceable Time Limits?

In an M&A transaction, the convention is for the seller to make representations and warranties to the buyer regarding the target business. When the target business is a private company, the acquisition agreement typically...more

Conflicts of Laws, Deficiency Actions, and Statutes of Limitations – Oh My!

by Snell & Wilmer on

What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more

Enforcing a Jury Trial Waiver in California: An Impossible Task?

It is not uncommon for parties to enter into agreements containing jury waiver provisions. However, enforcing such provisions in California courts may be a losing battle. California has a strong public policy in favor of the...more

Don’t Be an April Fool: How to Avoid the Hague Hangover

by Blank Rome LLP on

In the latest variation on “April Fool,” the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary will become effective in the U.S. on April 1, 2017. In one of its...more

Businesses Beat Lawsuits Alleging Website Terms Violate New Jersey Law

by Bryan Cave on

Every retailer that does business in New Jersey needs to know about New Jersey’s Truth in Consumer Contract, Warranty and Notice Act (“TCCWNA”), which was passed in 1981 to protect the rights of consumers from allegedly...more

Facebook Successfully Dismisses Putative Class Action Alleging Violation of New Jersey’s TCCWNA Based on Choice-of-Law Clause in...

by Bryan Cave on

In Palomino v. Facebook, Inc., No. 16-cv-04329-HSG, 2017 WL 76901 (N.D. Cal. Jan. 9, 2017), two putative class representatives brought a claim on behalf of all “similarly situated New Jersey residents who created a Facebook...more

Location, Location, Location: What Factors Determine Whether California Law Applies To Non-Residents?

by Fisher Phillips on

In deciding whether California’s overtime laws apply to non-resident employees who spend full days or weeks working in the state, the California Supreme Court has previously held the state’s labor code applies to overtime...more

UCC8, UCC9, and The Hague Convention

by Liskow & Lewis on

Lenders who take security interests in securities accounts are familiar with the rules of Articles 8 and 9 of the Uniform Commercial Code that identify the governing jurisdiction for these transactions. Commencing April 1,...more

Hague Securities Convention Takes Effect to Clarify Applicable Law Governing Securities Accounts Held by Intermediaries

by Sullivan & Worcester on

On April 1, 2017, the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the "Convention") will take effect in the United States. On December 15, 2016, the United...more

The Hague Securities Convention – IV. What effect does the Hague Securities Convention have on perfection by filing?

The Convention does not affect perfection of a lien by taking physical possession of the securities. However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other...more

The Hague Securities Convention – III. What is required to be a governing law?

Two things are required. First, the choice should be expressly made. If an express choice is not made, there are a series of fallback rules under the Convention, but clearly the far better approach is to make an express...more

The Hague Securities Convention – II. What do these provisions accomplish?

The cited provisions are choice-of-law provisions that select the governing law for the intermediary account agreement, which under the Hague Securities Convention will then also dictate the governing law for other issues...more

The Hague Securities Convention – I. Lending Against Securities in the U.S. After April 1, 2017

The Hague Securities Convention, which goes into effect in the United States on April 1, 2017, will have significant impact on the law applied to all transactions – past and future – collateralized by securities held by an...more

An Important New Decision on Whether Section 75-1.1 Applies to Multistate Conduct

by Ellis & Winters LLP on

Last week, the U.S. District Court for the Middle District of North Carolina issued a meaty decision about N.C. Gen. Stat. § 75-1.1. The decision, in a case called SmithKline Beecham Corp. d/b/a GlaxoSmithKline v. Abbott...more

Utah Enacts Uniform Voidable Transactions Act

by Snell & Wilmer on

On March 21, 2017, Utah joined about a dozen other states in enacting the Uniform Voidable Transactions Act (the Act). This statute, which is found at §25-6-101 et seq., amends Utah’s Uniform Fraudulent Transfer Act (§25-6-1...more

Hague Securities Convention to Enter Into Effect in the United States - Choice of Law in Respect of Securities Held by...

by Shearman & Sterling LLP on

On April 1, 2017, the Hague Securities Convention — or by its actual name, the Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary — will enter into effect in the United...more

Disclosure Only Settlements - the Effect of Choice of Law

by Roetzel & Andress on

The Delaware Courts took a significant step in 2016 to reduce the filing in Delaware of lawsuits aimed at procuring disclosure only settlements (meaning settlements that involve only the provision of additional information...more

Remand Decision in Madden v. Midland Funding Raises Questions Regarding Choice of Law Clauses in Consumer Loan Agreements

by Pepper Hamilton LLP on

A careful parsing of state laws should be done if a lender is relying on a choice of law to avoid states that have criminal usury statutes. On February 27, the U.S. District Court for the Southern District of New York...more

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