News & Analysis as of

Contracts Clause

Consider Whether the Promise of a Bird in the Hand is Better Than Two in the Bush

When drafting settlement agreements, most lawyers give due attention to the scope of any release clause. And for good reason: for defendants, the extent to which the release protects against future litigation is critical, and...more

Schrems II Judgment Rendered

A 152 page judgment was rendered on October 3, 2017 by the Irish High Court in Schrems II: DPC v Facebook Final. Nor surprisingly, the court decided to refer the case to the Court of Justice of the European Union to make...more

UK Competition Regulator investigates home insurance price comparison website for “stifling competition” through use of Most...

by Bryan Cave on

The CMA ,the UK’s main competition regulator, launched an investigation on 26th September 2017 into home insurance price comparison website, compare the market.com, over its use of most favoured nation clauses and whether...more

Three Strikes and Recovery Act is Out

Today’s U.S. Supreme Court decision in Commonwealth of Puerto Rico v. Franklin California Tax-Free Trust puts an end to one of Puerto Rico’s multi-pronged efforts to deleverage itself. Given the comprehensiveness of the...more

Interpretation Of Exclusion Clauses

by Allen & Overy LLP on

The Court of Appeal has twice in two months handed down judgments on how the return to literalism (post the Supreme Court’s ruling in Arnold v Britton) applies to exclusion clauses. This is an important development for all...more

Clause Headings: When Do They Matter (And When Do They Not?)

by Allen & Overy LLP on

Burton J stated that he would find it "… impossible not to be assisted" by a clause heading in construing it, despite a provision that "… headings shall be ignored". Citicorp International Limited v Castex Technologies...more

Updates to New Hampshire’s “Dealer Bill of Rights”: What Equipment Manufacturers Need to Know

by Foley & Lardner LLP on

After two years of litigation, Senate Bill 126, which amended New Hampshire’s Motor Vehicle Franchise Act — the so-called “Auto Dealer’s Bill of Rights” (codified at RSA 357-C) — has survived scrutiny by the New Hampshire...more

Breaking News: California Supreme Court Hears Long-Awaited Gillette Oral Argument

by Reed Smith on

On October 6, 2015, counsel for the taxpayer and the Franchise Tax Board (“FTB”) argued before the California Supreme Court in The Gillette Company & Subs. v. California Franchise Tax Board. This case has been watched closely...more

Not So Friendly 'Friendly Discussion'

by Reed Smith on

‘Friendly discussion’. Two words that perhaps on first sight appear uncontroversial as to their meaning. However, when put into the dispute resolution clause of a contract, these two seemingly simple words can create issues...more

Nevada Amends Law Regarding Deficiency Judgment Calculation

by Ballard Spahr LLP on

By amending a statute that limits deficiency judgment amounts in certain cases, Nevada lawmakers have attempted to restore balance as the law applies to commercial properties. The amendments follow a recent wave of litigation...more

Georgia Courts Reject Two Common Setup Tactics

by Dentons on

In a recent decision, the Eleventh Circuit sought and then applied the Georgia Supreme Court’s answers to two certified questions about policyholder settlements made without the insurer’s consent. Piedmont Office Realty...more

The SEC’s Clawback Proposal – An Unconstitutional Taking?

by Allen Matkins on

In proposing incentive compensation clawback rules, the Securities and Exchange Commission studiously ignored any constitutional restraints on its actions.  Buried in the 198-page proposal is this chilling assertion...more

Can the CFPB Really Prohibit Pre-Dispute Arbitration Agreements?

Section 1028 of the Dodd-Frank Act, entitled “Authority to Restrict Mandatory Pre-Dispute Arbitration,” gives the CFPB the authority to promulgate regulations imposing conditions, limitations, or outright prohibitions on...more

High Court rules on inconsistency in charterparty arbitration clauses and applicable curial law

by Reed Smith on

Reed Smith (Lianjun Li and Min Li of the Hong Kong office, Nick Shaw and Halani Lloyd of the London office) recently represented the successful Charterers in Shagang South-Asia (Hong Kong) Trading Co. Ltd v Daewoo Logistics...more

Puerto Rico Debt Recovery Act Ruled Unconstitutional1

On Friday February 6, the Puerto Rico Federal District Court ruled the Debt Enforcement and Recovery Act (the “Recovery Act”) unconstitutional. Franklin Calif. Tax-Free Trust, et al. v. Comm. Of Puerto Rico et al., (D.P.R.,...more

Avoiding “Gotcha” Moments: Excusing Non-Production to Address Mechanical Issues Under the Temporary Cessation of Production...

by K&L Gates LLP on

In Landover Production Company, LLC v. Endeavor Energy Resources, L.P., et al., the Texas Court of Appeals re-affirmed the application of the implied, “temporary cessation of production doctrine” to prevent an oil and gas...more

Congressman Proposes Federal Non Disparagement Law

by Allen Matkins on

Last Friday, I wrote about a new California law that provides that a contract or proposed contract for the sale or lease of consumer goods or services may not include a provision waiving the consumer’s right to make any...more

4 Elements to Improve Enforceability of a Multi-tiered Dispute Resolution Clause

by Latham & Watkins LLP on

The English High Court decision in Emirates Trading Agency LLC v Prime Mineral Exports Private Limited offers guidance. Why this case is important - Multi-tiered or dispute escalation clauses are an important...more

Contracts Update: Consequential Loss: It's All In The Definition

by DLA Piper on

Recent developments in NSW reinforce the importance of not only expressly defining the term 'consequential loss' in contracts, but also carefully considering what categories of losses the exclusion is intended to cover, in...more

My Non-Compete, Your Salary: Words Of Caution For Business Owners And Employees

by Burr & Forman on

Without the ability to enforce it, a non-competition agreement can turn worthless, or ? perhaps far worse ? extremely expensive for an employer whose chooses to file litigation against a former employee. One area that can...more

New Changes to Engagement Letters Preclude Company Intervention in Portions of Audits Performed by Company Personnel

by Morgan Lewis on

A recent auditing standard issued by the AICPA’s Auditing Standards Board may result in the inclusion of a new provision in auditors’ engagement letters related to external auditors’ use of the work of internal auditors and...more

The Entrepreneurs Report - Q1 2014

Wilson Sonsini Goodrich & Rosati’s experience confirms reports that the market remains positive overall, with up rounds comprising more than three-quarters of all venture deals in Q1 2014, the highest proportion in several...more

Minnesota Supreme Court Recognizes New Private Right Of Action Against Residential Mortgage Loan Servicers

by Stinson Leonard Street on

On April 2, 2014, the Minnesota Supreme Court in Gretsch v. Vantium Capital, Inc. recognized a new private right of action against residential mortgage loan servicers who breach their servicer participation agreements with...more

Fast Five: Rhode Island Appellate Practice - March 2014: Lenders Beware! Usury Savings Clause Does Not Validate Usurious...

In a case of first impression that has important implications for lenders in Rhode Island, the Rhode Island Supreme Court held this term that a usury savings clause in a commercial loan document does not validate an otherwise...more

First Circuit: Does a Local Government Have Authority To Regulate Foreclosures?

by Best Best & Krieger LLP on

Many cities have struggled with the effects of foreclosures. But given the complex mix of state laws that often governs the issue, how much authority do local governments have in this area? A First Circuit case,...more

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