Recent Arizona Commercial Law Cases

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Over the last few months there have been several significant commercial law cases in Arizona. These have included four Court of Appeals and three Supreme Court cases, each addressing common loan document provisions and other issues of significance to transactional lawyers and lenders: (i) Dobson Bay Club v. La Sonrisa De Siena, LLC, 242 Ariz. 108, 393 P. 3d 449 (2017), dealing with the enforcement late charges in loan documents; (ii) American Power Products, Inc. v. CSK Auto, Inc, 239 Ariz. 151, 367 P. 3d 55 (2017), which addresses contractual attorney fee provisions; (iii) Earle Investments v. Southern Desert Medical Center Partners, 242 Ariz. 252, 394 P. 3d 1089 (App. 2017), which covers the meaning of a lessor’s “subordination” to a leasehold deed of trust; (iv) ZB NA v. Hoeller, 242 Ariz. 315, 395 P. 3d 704 (App. 2017), dealing with choice of law issues affecting the right to a post-foreclosure deficiency; (v) Ciena Capital Funding v. Krieg’s, Inc., 242 Ariz. 212, 394 P. 3d 39 (App. 2017), dealing with the enforcement of a payment guaranty after a borrower bankruptcy; (vi) City of Phoenix v. Glenayre Electronics, 393 P. 3d 919 (2017), covering an important distinction between contractual and statutory indemnities in contracts with governments; and (vii) Arizona State University Board of Regents v Arizona State Retirement System, 237 Ariz. 246, 349 P. 3d 220 (App. 2017), which addresses prejudgment interest rates on certain debt obligations.

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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.

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