Condition Precedent

News & Analysis as of

Third Circuit Holds Interrelated Claims Provision Is An Exclusion to Coverage

In its recent decision in Borough of Moosic v. Darwin National Assurance Co., 2014 U.S. Ap. LEXIS 2118 (3d Cir. Feb. 4, 2014), the United States Court of Appeals for the Third Circuit, applying Pennsylvania law, had occasion...more

Insured Seeking Defense and Indemnity Forced to “Go Fish” After Failing to Satisfy Policy’s Condition Precedent

In Petco Animal Supplies Stores, Inc. v. Insurance Co. of North America, ___ F.3d ___, 2013 WL 3942889 (8th Cir. Aug. 1, 2013) (Minn.), Meiko Pet Corporation, a Taiwan company, purchased a products liability insurance policy...more

Read the Fine Print! Restrictions in a Power of Attorney May Invalidate Loan Documents

On November 6, 2012, the North Carolina Court of Appeals ruled in a unanimous decision that several commercial guaranties were invalid when signed by an attorney in fact, pursuant to a power of attorney which contained a...more

The Empty Dotted Line — What Does It Mean?

You own a manufacturing business. You spent a good part of last year putting together a private-branding and distributorship agreement with a new customer and a new distributor. Most of it was over email. Now the...more

Do You Need Those Stinkin' Signatures? Maybe Not.

Let's say you are a corporate lawyer. You spend your pitiful and lonely life surrounded by marked up papers and red pens, drafting or revising agreements. You send your final versions out to your clients to sign, with those...more

Pay-If-Paid Clauses: A Powerful Shield From Payment

Subcontracts typically contain either a pay-when-paid clause or a pay-if-paid (i.e., contingent payment) clause. A pay-when-paid clause only deals with the timing of the obligation to pay the subcontractor. ...more

Seventh Circuit Confirms Viability of Claims Made Defense in Errors and Omissions Policy Dispute

The Seventh Circuit confirmed that the notice requirements of “claims-made” policies entitle insurers to deny coverage where, before the policy’s inception, the insured knows of circumstances that “might reasonably be...more

Burr Alert: The Architect's Role In The Construction Project

Recently, the Alabama courts have issued two significant decisions regarding the architect's role in the construction project, which will have an impact on owners, contractors, and subcontractors. It is important that you...more

It Ain't Over 'Till the Fat Lady Sings - Party's Contractual Obligations Continue In Agreement To Negotiate

In IDT Corp. v Tyco Group, S.A.R.L., 2012 NY Slip Op 09190 (1st Dept. Dec. 27, 2012) the Appellate Division held that if you sign a binding agreement that includes an obligation to negotiate, the obligation to negotiate is...more

December 2012: Insurance Litigation Update

Exhaustion Means Exhaustion: Courts Require Complete Exhaustion for Excess Coverage: The idea behind excess insurance is easy to understand — an excess policy provides additional coverage above the limits of the underlying,...more

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