Disclaimers

News & Analysis as of

IRS Amends Circular 230 Regulations: Standard Tax Disclaimers Should Be Reviewed

The IRS amended the Circular 230 regulations in June, 2014. The main changes are the elimination of the “covered opinion” rules and the written disclosure requirement, as well as the expansion of requirements that apply to...more

IRS Amends Regulations for Written Tax Advice: Say Goodbye to the Circular 230 Disclaimer at the End of Emails

Effective June 12, 2014, the IRS has announced revisions to Circular 230: Regulations Governing Practice Before the Internal Revenue Service that are designed, in part, to provide a more flexible standard for all written tax...more

Disclaimer Requirement of N.Y. Insurance Law § 3420(d)(2) Held Not to Apply to Property Damage Claims

The New York Court of Appeals recently confirmed that the heightened timeliness of disclaimer requirement in New York Insurance Law § 3420(d)(2) does not apply to claims arising from property damage, in KeySpan Gas East Corp....more

IRS Issues Final Circular 230 Rules Simplifying Written Advice Requirements

On June 9, 2014, the U.S. Treasury Department and Internal Revenue Service (“IRS”) issued final regulations replacing the “covered opinion” rules under Circular 230. Effective June 12, 2014, the final rules now subject all...more

Supreme Court of Texas Finds Purchasers of Used Goods Can Recover on Implied Warranty Claims in a Case That Highlights Risk of...

In a significant decision issued earlier this month, the Supreme Court of Texas held that the implied warranty of merchantability, unless properly disclaimed, passes to purchasers of used goods. The decision in Man Engines &...more

New York’s Highest Court Rejects Timing Requirement for Disclaimers of Coverage

In its recent decision in KeySpan Gas East Corp. v Munich Reinsurance America, Inc., 2014 N.Y. LEXIS 1319 (N.Y. June 10, 2014), the New York Court of Appeals – New York’s highest court – had occasion to consider the length of...more

NLRB Discounts Use of Handbook Disclaimers to Avoid Interference Claims

Over the past year, EmployNews has reported a growing series of decisions by the National Labor Relations Board calling into question the use of common employee handbook policies by non-unionized employers. These decisions...more

Rely Only on This Prospectus . . . Unless We Left Something Out

In a little-noticed part of a December 2013 opinion in the multidistrict Facebook IPO litigation, U.S. District Judge Robert Sweet ruled that plaintiffs could use prospectus language once thought to be a shield against...more

Finally - A Different Result for a Government Contractor's Differing Site Condition Claim

For any government contractor that has had a differing site condition claim denied despite relying on a government geotechnical report about the subsurface conditions of the project site, the U.S. Court of Appeals for the...more

Last Week at the FEC: Potential Compromise For Disclaimers in Mobile Advertisements

Last week the Federal Election Commission met in executive session on Tuesday, February 4 but canceled its open meeting scheduled for February 6. The Commission was able to release a supplement to the underlying opinion...more

Making Disclaimer Work For Minors: Navigate Differences Between N.Y. Law and the IRC.

Both New York’s EPTL §2-1.11 and Internal Revenue Code §2518 permit an individual to disclaim an interest in property transferred to him or her if certain conditions are met. Although the conditions in the EPTL and IRC are...more

Overstock Under Scrutiny: Does This Recent Decision Represent a New Wave of California Litigation for Sellers of Consumer Products...

It is not often that a decision from a California trial court receives or deserves as much attention as the recent tentative decision issued by Alameda County Superior Court Judge Wynne Carvill in the State’s case against...more

Practice Tips for M&A Practitioners for 2014

Based on a number of cases decided by the Delaware courts in 2013, below we summarize practice tips regarding careful drafting of contractual provisions and complying with technical and statutory requirements....more

High Court Decides on Disclaimer of Leases

While it is common for a liquidator of corporate tenants to disclaim a lease, the case of Willmott Growers Group Inc v Willmott Forests Limited (Receivers and Managers Appointed) (In Liquidation)[2013] HCA 51 explores the...more

Confidentiality Agreements: How To Draft Them And What They Restrict

I. Confidentiality Agreements And Their Effects Are Evolving - A confidentiality agreement (also sometimes called a non-disclosure agreement or “NDA”) is typically the first stage for the due diligence process in a...more

Advertising News & Analysis - October 10, 2013

In this issue: - October 16 is Coming…Is Your Company Ready? - Are Disclaimers a Dying Breed? - It Just Got Easier to Do the Right Thing, in Maine at Least - No Matter Who’s Watching, Some Ads Just...more

Building and Protecting Your Association’s Brand in Social Media: Managing the Legal Pitfalls

In this presentation: - Social Media – Everywhere - How Does Social Media Work for You? - When Social Media Works against You - Laws – Evolving - Defamation - Intellectual Property:...more

UK: Advertising claims – do statements of opinion or objective fact require substantiation? The ASA decides

In an interesting adjudication on the Campaign for Fairer Gambling, the ASA holds that the level of sophistication of the audience at which an ad is aimed, and therefore the effectiveness of a disclaimer used in that ad, has...more

Contractual Provisions Disclaiming Attorney-Client Relationship Do Not Let Lawyer Off The Hook

Suppose a contract includes the following provisions: “Founder is relying solely on her legal counsel and not on any statements or representations of the Company’s legal counsel for legal advice with respect to this...more

Advertising News & Analysis - August 1, 2013

In this issue: - Sorry, Charlie: Taylor Swift Contest Makes Case for Solid Promotion Rules - The Devil is in the Details for Number 1 Claims - Can Website Disclaimers Stop Declaratory Judgment...more

Court Finds Uniform Commercial Code Applies to Commoditized Software

We’ve all seen the ads on the Internet—computer-optimization software designed to make your old PC operate like it’s brand new. Many consumers see these advertisements and, frustrated with the performance of their computers,...more

Social Media Legal Risks for Nonprofits: How to Successfully Navigate the Pitfalls

In this presentation: - How Does Social Media Work For You? - When Social Media Works Against You - Others’ IP - The Pinterest Question: “ But, What About Fair Use?” - Argh, so many...more

How to Dodge a Declaratory Judgment Suit – by Website Disclaimer?

Fresh off its Supreme Court win last month, Monsanto has notched another appellate victory in a case relating to its patents on “Roundup Ready” genetically modified seeds. This most recent case involved an attempt by a group...more

Insights - Spring 2013: Developing Federal Common Law of Successor Liability

When a purchaser acquires substantially all the assets of a seller, the purchase agreement typically provides that the purchaser does not assume seller’s liabilities except to the limited extent specifically set forth...more

Tax Law Blog: Disclaiming an Inheritance

Most of the time, people are pleased to accept an inheritance. However, there are many reasons to not want the inheritance. For example, in small estates, you may receive a home that comes subject to a mortgage, and you...more

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