News & Analysis as of

Sellers Summary Judgment

Fenwick & West LLP

SEC v. Ripple Labs: Securities Law Analysis Under Howey Applied On A Transaction-By-Transaction Basis

Fenwick & West LLP on

It’s the Transaction, Not the Token. Issuers cannot offer or sell securities without registering them with the SEC under Section 5 of the Securities Act of 1933 or finding a valid exemption from registration. XRP is the...more

Lewitt Hackman

Franchisee 101: Pandemic No Excuse for Non-Payment

Lewitt Hackman on

The Massachusetts Supreme Judicial Court granted summary judgment in favor of the seller of a janitorial service franchise based on claims by the buyers that the COVID-19 pandemic excused their obligation to pay the seller...more

Bennett Jones LLP

Entire Agreement Clause and Due Diligence Cannot Oust Fraudulent Misrepresentation

Bennett Jones LLP on

The defence of misrepresentation is still alive in circumstances involving entire agreement clauses and opportunities for due diligence, the Ontario Court of Appeal recently held in 10443204 Canada Inc. v 2701835 Ontario...more

Dickinson Wright

A Reminder to Purchasers of the True Cost of Not Closing – It’s not “Just the Deposit”

Dickinson Wright on

In Prowse v. Noroozi 2021 ONSC 3099 (CanLII), Justice McCarthy of the Superior Court of Justice recently granted summary judgment for $806,380.59 against a purchaser of a luxury home in King City (the “Property”) in an...more

Troutman Pepper

Buyer Beware: Untimely Delivery of Closing Statement Results in Waiver of the Right to Post-Closing Adjustments

Troutman Pepper on

In Schillinger Genetics, Inc. v. Benson Hill Seeds, Inc., the Delaware Court of Chancery held that plaintiff sellers were entitled to summary judgment on their claim that the buyer breached the parties’ purchase agreement by...more

White and Williams LLP

When Actions Speak Louder Than Words: Implied Assumption of Debt of an Acquired Business

When considering whether to acquire a business through an asset sale, it is important for the purchaser to analyze what, if any, of the seller’s liabilities it must assume to continue the seller’s operations. Prudent...more

Faegre Drinker Biddle & Reath LLP

Third Circuit Holds Online Retailers May Be Liable for Defective Third-Party Products Under Pennsylvania Product Liability Laws

The Third Circuit Court of Appeals has held that online retailers such as Amazon could be held liable for allegedly defective third-party products sold through its website. In a 2-1 panel decision in Oberdorf v. Amazon.com,...more

Bracewell LLP

Texas Supreme Court Narrows the Ability of General Contractors to Seek Chapter 82 Indemnity for Product Claims

Bracewell LLP on

On June 17, the Texas Supreme Court further clarified the definition of the word "seller" in Chapter 82 of the Texas Civil Practice and Remedies Code (known as the Texas Products Liability Act), which was intended to provide...more

Seyfarth Shaw LLP

North Carolina Courts Are Forbidden To “Blue Pencil” An Unenforceable Non-Compete

Seyfarth Shaw LLP on

Reversing a 2-1 decision of the North Carolina Court of Appeals, the state’s Supreme Court held unanimously that an assets purchase-and-sale contract containing an unreasonable territorial non-competition restriction is...more

Pullman & Comley, LLC

Appellate Court Notes

Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19359 - Persels & Associates, LLC v. Banking Commissioner - Noting that it has generally been the policy of the Courts to defer to the Legislature, especially as to the...more

Benesch

UTC Fire & Security Obtains Summary Judgment In Putative TCPA Class Action

Benesch on

The Telephone Consumer Protection Act, 47 U.S.C. § 227 (“TCPA”), prohibits initiating a telephone call using a prerecorded voice to wireless or residential telephone numbers unless the called party consents to receiving the...more

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