Buying Your Home Selttlement Costs and Helpful InformationMadonna Hartley
From The US Department of Housing and Urban Development-HUD.Obtaining a mortgage,settlement costs,defination of terms and other need to know information for the informed consumer.
Distressed asset sales both in bankruptcy and out-of-court alter Feb 2015 Polsinelli PC
Given the economic downturn of recent years, professionals' fees and costs have been a driving factor in conducting the acquisition of distressed assets. A majority of these transactions take place pursuant to section 363 of the Bankruptcy Code. However, out-of-court alternatives such as Receiverships, Assignments for the Benefit of Creditors, and Article 9 of the Uniform Commercial Code have gained momentum to bankruptcy as expeditious and cost-efficient alternatives.
This webinar focuses on the sale of distressed assets under each of these alternatives, including bankruptcy and a special emphasis on the sale or acquisition of distressed health care assets.
1) Girardi & Stanton have a common law retaining lien that allows them to hold Mr. Gibson's files until their outstanding legal fees are paid. However, this lien is passive and does not allow them to withhold the files indefinitely.
2) While Girardi & Stanton are entitled to the outstanding $8,250 fee, they must turn over copies of the files to Mr. Gibson and the new law firm so the case is not prejudiced. Retaining liens should only be asserted as a last resort to avoid harming the client.
3) Mr. Gibson and the new law firm are entitled to receive the files, as withholding them would delay the case against Cerone Sporting
This document provides an overview and discussion of several legal issues related to farm tenancies and succession rights in the UK, including:
- Using an assignment to circumvent succession application rights
- The role of supporting planning documents for Case B notices to quit
- Pitfalls of surrenders and regrants of tenancies
- Options and risks associated with combining surrenders and regrants with succession plans
- Interpretation of private rights of way in legal cases
- Planning and environmental considerations for farm energy and waste schemes
- Tax implications of section 4(i)g tenancies upon surrender and regrant
It cautions landlords and tenants to act quickly when rights are unclear, comply with statutory timescales
This document discusses legal issues related to financing the construction of sports stadiums using public funds. It provides examples of stadium financing deals between cities and sports teams, and examines whether such use of public money serves a valid public purpose. It also reviews the key elements of contracts, common clauses in facility lease agreements between teams and cities, and contractual issues that can arise in stadium operations through agreements like game contracts, sales of goods contracts, and service contracts.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Equitable remedies like damages under Lord Cairns' Act and accounts of profits can provide monetary compensation where legal remedies are insufficient. Damages under Lord Cairns' Act allow courts to award damages in substitution of injunctions, and measure damages equivalent to what an injunction would provide. Accounts of profits require wrongdoers to disgorge any profits obtained through their wrongful acts, preventing unjust enrichment. Over time, the distinction between compensation and restitution has blurred, with equitable courts increasingly willing to order restitutionary or accounts of profits remedies in both contractual and property disputes.
Buying Your Home Selttlement Costs and Helpful InformationMadonna Hartley
From The US Department of Housing and Urban Development-HUD.Obtaining a mortgage,settlement costs,defination of terms and other need to know information for the informed consumer.
Distressed asset sales both in bankruptcy and out-of-court alter Feb 2015 Polsinelli PC
Given the economic downturn of recent years, professionals' fees and costs have been a driving factor in conducting the acquisition of distressed assets. A majority of these transactions take place pursuant to section 363 of the Bankruptcy Code. However, out-of-court alternatives such as Receiverships, Assignments for the Benefit of Creditors, and Article 9 of the Uniform Commercial Code have gained momentum to bankruptcy as expeditious and cost-efficient alternatives.
This webinar focuses on the sale of distressed assets under each of these alternatives, including bankruptcy and a special emphasis on the sale or acquisition of distressed health care assets.
1) Girardi & Stanton have a common law retaining lien that allows them to hold Mr. Gibson's files until their outstanding legal fees are paid. However, this lien is passive and does not allow them to withhold the files indefinitely.
2) While Girardi & Stanton are entitled to the outstanding $8,250 fee, they must turn over copies of the files to Mr. Gibson and the new law firm so the case is not prejudiced. Retaining liens should only be asserted as a last resort to avoid harming the client.
3) Mr. Gibson and the new law firm are entitled to receive the files, as withholding them would delay the case against Cerone Sporting
This document provides an overview and discussion of several legal issues related to farm tenancies and succession rights in the UK, including:
- Using an assignment to circumvent succession application rights
- The role of supporting planning documents for Case B notices to quit
- Pitfalls of surrenders and regrants of tenancies
- Options and risks associated with combining surrenders and regrants with succession plans
- Interpretation of private rights of way in legal cases
- Planning and environmental considerations for farm energy and waste schemes
- Tax implications of section 4(i)g tenancies upon surrender and regrant
It cautions landlords and tenants to act quickly when rights are unclear, comply with statutory timescales
This document discusses legal issues related to financing the construction of sports stadiums using public funds. It provides examples of stadium financing deals between cities and sports teams, and examines whether such use of public money serves a valid public purpose. It also reviews the key elements of contracts, common clauses in facility lease agreements between teams and cities, and contractual issues that can arise in stadium operations through agreements like game contracts, sales of goods contracts, and service contracts.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Equitable remedies like damages under Lord Cairns' Act and accounts of profits can provide monetary compensation where legal remedies are insufficient. Damages under Lord Cairns' Act allow courts to award damages in substitution of injunctions, and measure damages equivalent to what an injunction would provide. Accounts of profits require wrongdoers to disgorge any profits obtained through their wrongful acts, preventing unjust enrichment. Over time, the distinction between compensation and restitution has blurred, with equitable courts increasingly willing to order restitutionary or accounts of profits remedies in both contractual and property disputes.
Navigating the real estate road avoiding pitfalls and potholes march 2015 ssPolsinelli PC
Commercial property developers, owners and brokers know that the road to a successful real estate deal is not always a smooth highway, and some of the twists and turns are more easily handled than others. Obstacles that have frequently led to litigation can provide valuable lessons on how to avoid future bumps. Polsinelli's Real Estate Litigation attorneys address common issues in the real estate industry that have led to litigation, and advise on steps that can be taken in the negotiation, drafting and early dispute processes to ultimately avoid the courtroom.
Weather guard Tiling solutions (WTS) are involved in manufacturing, distributing and of Roof tiles. They also have to ensure smooth employee relations that are in accordance with the law. Nature of business of the company is to involve itself in a number of contractual agreements with employees, customers and logistic suppliers. The contracts are in the form of oral or written contracts. The company also should adhere to the proper duty of care and ensure there can be no claims of negligence (Beck, Demirgüç-Kunt, & Levine, 2003). Some cases are foreseeable events and some claims are not foreseeable they are many layers to make this determination according to contractual laws. Only certain aspects are considered to make a contractual law valid.
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad ...NationalUnderwriter
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad Faith Claim Against First-Party Insurer by Michael S. Levine
In Great Am. Ins. Co. v. GRM Mgmt., LLC,[1] a federal district court denied an insurer’s motion to dismiss a bad-faith claim arising out of the insurer’s denial of its policyholder’s claim for property damage and loss of business income following the theft of rooftop air conditioning units from the policyholder’s hotel. The ruling is significant because it illustrates that Virginia law supports first-party bad-faith claims against insurers.
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad-...NationalUnderwriter
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad-Faith Claim Against First-Party Insurer
In Great Am. Ins. Co. v. GRM Mgmt., LLC,[1] a federal district court denied an insurer’s motion to dismiss a bad-faith claim arising out of the insurer’s denial of its policyholder’s claim for property damage and loss of business income following the theft of rooftop air conditioning units from the policyholder’s hotel. The ruling is significant because it illustrates that Virginia law supports first-party bad-faith claims against insurers.
Remedies for breach of contract include damages, specific performance, and restitution. Damages are monetary compensation to make the injured party whole. Specific performance is a court order requiring a breaching party to fulfill their contractual obligations. Restitution returns any unjust enrichment to the injured party.
At the root of appeals from judgments in commercial cases is the burning question: Does the result make sense from a business perspective? or put in more legally-eloquent language: Does this result meet the test of commercial reasonableness? "Commercial Reasonabless" is a concept Canadian courts address frequently to determine if business conduct or a result makes sense.
This paper will show that in commercial appeals, the Court of Appeal generally operates on the principle of commercial reasonableness. If the relief sought is not commercially reasonable, then you are unlikely to achieve a successful result for your client. I hope to show that appellate courts in Ontario approach appeals involving commercial disputes by asking whether the trial judge’s decision was commercially reasonable. In short, The court will not adopt an interpretation that is clearly commercially absurd.
The author is a senior business litigation and arbitration lawyer in Toronto who has argued many business appeals in the Ontario Court of Appeal. He is also an experienced trial and arbitration counsel. Senior partner of Ellyn Law LLP Business Litigation & Arbitration Lawyers, Mr. Ellyn heads a team of competent litigation lawyer who are at the vanguard of developments of business litigation and arbitration in Ontario. Igor Ellyn is also the Chair of the Business Litigation & Arbitration Practice Group of INBLF.com, the International Network of Boutique Law Firms.
This document discusses concepts related to mortgage foreclosure, including:
1) Basic concepts like foreclosure, collateral, and deficiency are discussed as well as new concepts since the last economic downturn like loan servicers and their right to foreclose.
2) The types of notices required before foreclosure like demand notices, notices of intent to accelerate, and notices of acceleration are outlined.
3) Options for stopping a foreclosure through an injunction or temporary restraining order are presented, including requirements to post a bond and demonstrate probable right and injury with no adequate legal remedy.
5 a law and ethics discharge of contract, remedies and injunctionsmsstephanielord
This document provides an overview of the discharge of contracts through various methods such as performance, agreement between parties, notice, breach of contract, operation of law including frustration, and remedies for breach of contract. It defines the key methods of discharge and uses cases as examples to illustrate concepts like performance, agreement, notice, breach as repudiatory or anticipatory, and frustration. The document also discusses common law remedies for breach like damages and equitable remedies, and how damages are calculated based on expectation loss or reliance loss. It provides limitations to damages awards. Overall, the document serves as a lecture overview on the discharge of contracts and available remedies.
This document summarizes a webinar presented by Richard Macias on handling collection litigation. It discusses identifying potential parties that can be pursued for collection, such as shareholders, partners, guarantors and related parties. It also covers analyzing collectability, pursuing workouts, beginning litigation, using pre-judgment remedies, keeping costs low through discovery and settlement, obtaining judgments, and preparing for trial. The document stresses being organized and assembling all relevant documents before engaging legal counsel.
This document discusses various strategies for SMSFs to acquire and hold real property, including:
1) Acquiring business real property from related parties under section 66 of the SIS Act, which allows exceptions for market value transactions.
2) Using family trusts or trading companies to lease land to SMSFs to provide deductible rent and tax-free pension income.
3) Tax planning opportunities around capital gains tax exemptions for the sale of long-held business assets and contributions to superannuation.
4) Issues around the in-house assets test for leases and investments between related parties and SMSFs.
5) Using unit trusts or instalment warrant structures to acquire real property through joint
USE PARAGRAPH (1.1) TO ANSWER QUESTIONS 1 – 61.1 Big Time Toy.docxdickonsondorris
USE PARAGRAPH (1.1) TO ANSWER QUESTIONS 1 – 6:
1.1 Big Time Toymaker (BTT) develops, manufactures, and distributes board games and other toys to the United States, Mexico, and Canada. Chou is the inventor of a new strategy game he named Strat. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25,000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. Just three days before the expiration of the 90-day period, the parties reached an oral distribution agreement at a meeting. Chou offered to draft the contract that would memorialize their agreement. Before Chou drafted the agreement, a BTT manager sent Chou an e-mail with the subject line “Strat Deal” that repeated the key terms of the distribution agreement including price, time frames, and obligations of both parties. Although the e-mail never used the word contract, it stated that all of the terms had been agreed upon. Chou believed that this e-mail was meant to replace the earlier notion that he should draft a contract, and one month passed. BTT then sent Chou a fax requesting that he send a draft for a distribution agreement contract. Despite the fact that Chou did so immediately after receiving the BTT fax, several more months passed without response from BTT. BTT had a change in management and informed Chou they were not interested in distributing Strat.
READ ENTIRE DOCUMENT BELOW (2.1) FOR SUPPORTING EVIDENCE:
2.1 The law provides certain relief for aggrieved parties that suffer losses as a result of another party’s breach of contract. These relief mechanisms are collectively referred to as remedies. Recall the distinction discussed in Chapter 1 between remedies at law and remedies in equity. For many contracts, the remedy at law will be money damages awarded by the court to the non-breaching party. This is simply a legal mechanism for compelling the breaching party to compensate the innocent party for losses related to the breach. In a contract claim, money damages are primarily limited to (1) compensatory (also called direct ) damages, (2) consequential damages, (3) restitution, and (4) liquidated damages. 15
Compensatory Damages
Compensatory damages cover a broad spectrum of losses for recovery of actual damages suffered by the non-breaching party. These damages are an attempt to put the non-breaching party in the same position she would have been in if the other party had performed as agreed. This includes such sums as out-of-pocket damages and even potential profits that would have been earned if performance had occurred. For example, BigCo. hires LowPrice to prepare BigCo.’s tax returns and financial statements in time for BigCo.’s shareholders meeting on March 1 for a fee of $5,000. On February 15, the principal of LowPrice notifiesBigCo. that she cannot prepare the returns because she decided to switch ...
This document provides an overview of consideration in contract law. It defines the elements of consideration as requiring a legal benefit and detriment to both parties. The document discusses the concepts of mutuality of obligation, illusory promises, pre-existing duties, modification of contracts, discharge of debts, unliquidated debts, promissory estoppel, and firm offers. It provides examples and hypothetical cases to illustrate these concepts. The learning objectives are to understand the requirements for valid consideration in a contract.
Note please read all the instruction carefully before beginning.docxkanepbyrne80830
Note: please read all the instruction carefully before beginning the assignment.
For this milestone, you will review Case Study One and compose a short report, applying your legal knowledge and understanding of the types of business organizations. Case Study One focuses on the legal system, criminal law, and ethics.
For additional details, please refer to the Milestone One Guidelines and Rubric document and the Milestone One Template in the Assignment Guidelines and Rubrics section of the course.
Note: the pages that you would need to read and understand in order to be able to do this assignment is listed below on the case study one
.
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
What is consideration?
2
What are the rules regarding consideration?
3
What is promissory estoppel, and when can it be used?
4
What is an illusory promise?
5
How are the UCC rules regarding consideration different from the common law rules regarding consideration?
6
What is the difference between a liquidated debt and an unliquidated debt?
7
What is an accord and satisfaction?
CASE OPENER
Upper Deck—Contract Liability or Gift?
In 1988 the Upper Deck Company was a company with an idea for a better baseball card: one that had a hologram on it. By the 1990s the firm was a major corporation worth at least a quarter of a billion dollars.
In 1988, however, its outlook hadn't been so bright. Upper Deck lacked the funds for a $100,000 deposit it needed to buy some special paper by August 1. Without that deposit its contract with the Major League Baseball Players Association would have been jeopardized.
Upper Deck's corporate attorney, Anthony Passante, Jr., loaned the company the money. That evening, the directors of the company accepted the loan and, in gratitude, agreed to give Passante 3 percent of the firm's stock. Passante never sought to collect the stock, and later the company reneged on its promise. Passante sued for breach of oral contract.
1
p. 343
1.
If you were on the jury, how would you decide the case? Was the offer of 3 percent of the firm's stock legal consideration for the loan? Or was it a mere gift?
2.
Does Upper Deck have a moral obligation to give Passante the stock? If so, is this obligation legally enforceable?
The Wrap-Up at the end of the chapter will answer these questions.
at is Consideration?
Consideration
The bargained-for exchange; what each party gets in exchange for his or her promise under a contract.
is required in every contract. It is what a person will receive in return for performing a contract obligation. Suppose Dan agrees to purchase Marty's car for $1,000. Dan's payment of $1,000 is the consideration Marty will receive for the car. Title to and possession of the car are the consideration Dan will receive in exchange. Consideration can be anything, as long as it is the product of a bargained-for exchange. In a business context it is often (.
Washington Court Holds Stipulated Covenant Judgment Sets Minimum Amount of Da...NationalUnderwriter
Washington Court Holds Stipulated Covenant Judgment Sets Minimum Amount of Damages in Bad Faith Case. (from FC&S Legal: The Insurance Coverage Law Information Center)
Recently, Division One of the Court of Appeals of Washington State affirmed a jury verdict awarding $13 million in damages to a passenger injured in a car accident, finding that the $4.15 million agreed amount of the covenant
judgment in the insurance bad faith case sets a floor, not a ceiling, on the damages a jury can award.
In Miller v. Kenny and Safeco Ins. Co.,[1] the Court of Appeals ruled on several additional issues on appeal including whether evidence of an insurance company’s loss reserves is properly admissible at trial.
This document establishes rules for interpreting business property insurance policies in Oregon relating to business interruption claims from events like pandemics. It prohibits certain insurer conduct like failing to timely investigate or pay claims. Insureds can sue for actual damages if insurers violate these rules. The act takes effect immediately.
PPT for ABA SAC 2018 of ICLC Tucson Conference 2018Seth Row
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Opinion granting plaintiffs' msj 17-02-10 reliance is required spending on ...Seth Row
US District Court, District of Oregon, order holding that insurer did not "rely" on insured's alleged misrepresentation by incurring expenses to investigate insured's loss
2014 09-12 plaintiff's reply brief re application of all-sums rule v. time-on...Seth Row
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document is an opinion and order from a United States District Court case between Siltronic Corporation and various insurance companies including Employers Insurance Company of Wausau regarding insurance coverage and payment of defense costs for environmental claims arising from contamination at the Portland Harbor Superfund site. The court considers Siltronic's motion for partial summary judgment that Wausau has a continuing duty to defend Siltronic under its 1978-79 insurance policy and must reimburse unpaid defense costs. The court provides background on the insurance policies and contamination issues before analyzing the relevant policy provisions and ruling on the motions.
National union v. redbox order on msj august 7 2014 wd waSeth Row
This order addresses National Union Fire Insurance Company's motion for summary judgment regarding its duties to defend and indemnify Redbox Automated Retail in various lawsuits. The court grants in part and denies in part the motion. Specifically, the court finds that National Union has a duty to defend Redbox in the Cain lawsuit, which alleges violations of Michigan's video rental privacy law, but not in the Mehrens lawsuit, which alleges violations of California's credit card receipt law. The court also finds that while National Union may issue reservations of rights and set reasonable rate caps when defending insureds, it must do so reasonably and in good faith.
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Navigating the real estate road avoiding pitfalls and potholes march 2015 ssPolsinelli PC
Commercial property developers, owners and brokers know that the road to a successful real estate deal is not always a smooth highway, and some of the twists and turns are more easily handled than others. Obstacles that have frequently led to litigation can provide valuable lessons on how to avoid future bumps. Polsinelli's Real Estate Litigation attorneys address common issues in the real estate industry that have led to litigation, and advise on steps that can be taken in the negotiation, drafting and early dispute processes to ultimately avoid the courtroom.
Weather guard Tiling solutions (WTS) are involved in manufacturing, distributing and of Roof tiles. They also have to ensure smooth employee relations that are in accordance with the law. Nature of business of the company is to involve itself in a number of contractual agreements with employees, customers and logistic suppliers. The contracts are in the form of oral or written contracts. The company also should adhere to the proper duty of care and ensure there can be no claims of negligence (Beck, Demirgüç-Kunt, & Levine, 2003). Some cases are foreseeable events and some claims are not foreseeable they are many layers to make this determination according to contractual laws. Only certain aspects are considered to make a contractual law valid.
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad ...NationalUnderwriter
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad Faith Claim Against First-Party Insurer by Michael S. Levine
In Great Am. Ins. Co. v. GRM Mgmt., LLC,[1] a federal district court denied an insurer’s motion to dismiss a bad-faith claim arising out of the insurer’s denial of its policyholder’s claim for property damage and loss of business income following the theft of rooftop air conditioning units from the policyholder’s hotel. The ruling is significant because it illustrates that Virginia law supports first-party bad-faith claims against insurers.
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad-...NationalUnderwriter
Clarifying Bad Faith Jurisprudence in Virginia, Federal Court Recognizes Bad-Faith Claim Against First-Party Insurer
In Great Am. Ins. Co. v. GRM Mgmt., LLC,[1] a federal district court denied an insurer’s motion to dismiss a bad-faith claim arising out of the insurer’s denial of its policyholder’s claim for property damage and loss of business income following the theft of rooftop air conditioning units from the policyholder’s hotel. The ruling is significant because it illustrates that Virginia law supports first-party bad-faith claims against insurers.
Remedies for breach of contract include damages, specific performance, and restitution. Damages are monetary compensation to make the injured party whole. Specific performance is a court order requiring a breaching party to fulfill their contractual obligations. Restitution returns any unjust enrichment to the injured party.
At the root of appeals from judgments in commercial cases is the burning question: Does the result make sense from a business perspective? or put in more legally-eloquent language: Does this result meet the test of commercial reasonableness? "Commercial Reasonabless" is a concept Canadian courts address frequently to determine if business conduct or a result makes sense.
This paper will show that in commercial appeals, the Court of Appeal generally operates on the principle of commercial reasonableness. If the relief sought is not commercially reasonable, then you are unlikely to achieve a successful result for your client. I hope to show that appellate courts in Ontario approach appeals involving commercial disputes by asking whether the trial judge’s decision was commercially reasonable. In short, The court will not adopt an interpretation that is clearly commercially absurd.
The author is a senior business litigation and arbitration lawyer in Toronto who has argued many business appeals in the Ontario Court of Appeal. He is also an experienced trial and arbitration counsel. Senior partner of Ellyn Law LLP Business Litigation & Arbitration Lawyers, Mr. Ellyn heads a team of competent litigation lawyer who are at the vanguard of developments of business litigation and arbitration in Ontario. Igor Ellyn is also the Chair of the Business Litigation & Arbitration Practice Group of INBLF.com, the International Network of Boutique Law Firms.
This document discusses concepts related to mortgage foreclosure, including:
1) Basic concepts like foreclosure, collateral, and deficiency are discussed as well as new concepts since the last economic downturn like loan servicers and their right to foreclose.
2) The types of notices required before foreclosure like demand notices, notices of intent to accelerate, and notices of acceleration are outlined.
3) Options for stopping a foreclosure through an injunction or temporary restraining order are presented, including requirements to post a bond and demonstrate probable right and injury with no adequate legal remedy.
5 a law and ethics discharge of contract, remedies and injunctionsmsstephanielord
This document provides an overview of the discharge of contracts through various methods such as performance, agreement between parties, notice, breach of contract, operation of law including frustration, and remedies for breach of contract. It defines the key methods of discharge and uses cases as examples to illustrate concepts like performance, agreement, notice, breach as repudiatory or anticipatory, and frustration. The document also discusses common law remedies for breach like damages and equitable remedies, and how damages are calculated based on expectation loss or reliance loss. It provides limitations to damages awards. Overall, the document serves as a lecture overview on the discharge of contracts and available remedies.
This document summarizes a webinar presented by Richard Macias on handling collection litigation. It discusses identifying potential parties that can be pursued for collection, such as shareholders, partners, guarantors and related parties. It also covers analyzing collectability, pursuing workouts, beginning litigation, using pre-judgment remedies, keeping costs low through discovery and settlement, obtaining judgments, and preparing for trial. The document stresses being organized and assembling all relevant documents before engaging legal counsel.
This document discusses various strategies for SMSFs to acquire and hold real property, including:
1) Acquiring business real property from related parties under section 66 of the SIS Act, which allows exceptions for market value transactions.
2) Using family trusts or trading companies to lease land to SMSFs to provide deductible rent and tax-free pension income.
3) Tax planning opportunities around capital gains tax exemptions for the sale of long-held business assets and contributions to superannuation.
4) Issues around the in-house assets test for leases and investments between related parties and SMSFs.
5) Using unit trusts or instalment warrant structures to acquire real property through joint
USE PARAGRAPH (1.1) TO ANSWER QUESTIONS 1 – 61.1 Big Time Toy.docxdickonsondorris
USE PARAGRAPH (1.1) TO ANSWER QUESTIONS 1 – 6:
1.1 Big Time Toymaker (BTT) develops, manufactures, and distributes board games and other toys to the United States, Mexico, and Canada. Chou is the inventor of a new strategy game he named Strat. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25,000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. Just three days before the expiration of the 90-day period, the parties reached an oral distribution agreement at a meeting. Chou offered to draft the contract that would memorialize their agreement. Before Chou drafted the agreement, a BTT manager sent Chou an e-mail with the subject line “Strat Deal” that repeated the key terms of the distribution agreement including price, time frames, and obligations of both parties. Although the e-mail never used the word contract, it stated that all of the terms had been agreed upon. Chou believed that this e-mail was meant to replace the earlier notion that he should draft a contract, and one month passed. BTT then sent Chou a fax requesting that he send a draft for a distribution agreement contract. Despite the fact that Chou did so immediately after receiving the BTT fax, several more months passed without response from BTT. BTT had a change in management and informed Chou they were not interested in distributing Strat.
READ ENTIRE DOCUMENT BELOW (2.1) FOR SUPPORTING EVIDENCE:
2.1 The law provides certain relief for aggrieved parties that suffer losses as a result of another party’s breach of contract. These relief mechanisms are collectively referred to as remedies. Recall the distinction discussed in Chapter 1 between remedies at law and remedies in equity. For many contracts, the remedy at law will be money damages awarded by the court to the non-breaching party. This is simply a legal mechanism for compelling the breaching party to compensate the innocent party for losses related to the breach. In a contract claim, money damages are primarily limited to (1) compensatory (also called direct ) damages, (2) consequential damages, (3) restitution, and (4) liquidated damages. 15
Compensatory Damages
Compensatory damages cover a broad spectrum of losses for recovery of actual damages suffered by the non-breaching party. These damages are an attempt to put the non-breaching party in the same position she would have been in if the other party had performed as agreed. This includes such sums as out-of-pocket damages and even potential profits that would have been earned if performance had occurred. For example, BigCo. hires LowPrice to prepare BigCo.’s tax returns and financial statements in time for BigCo.’s shareholders meeting on March 1 for a fee of $5,000. On February 15, the principal of LowPrice notifiesBigCo. that she cannot prepare the returns because she decided to switch ...
This document provides an overview of consideration in contract law. It defines the elements of consideration as requiring a legal benefit and detriment to both parties. The document discusses the concepts of mutuality of obligation, illusory promises, pre-existing duties, modification of contracts, discharge of debts, unliquidated debts, promissory estoppel, and firm offers. It provides examples and hypothetical cases to illustrate these concepts. The learning objectives are to understand the requirements for valid consideration in a contract.
Note please read all the instruction carefully before beginning.docxkanepbyrne80830
Note: please read all the instruction carefully before beginning the assignment.
For this milestone, you will review Case Study One and compose a short report, applying your legal knowledge and understanding of the types of business organizations. Case Study One focuses on the legal system, criminal law, and ethics.
For additional details, please refer to the Milestone One Guidelines and Rubric document and the Milestone One Template in the Assignment Guidelines and Rubrics section of the course.
Note: the pages that you would need to read and understand in order to be able to do this assignment is listed below on the case study one
.
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
What is consideration?
2
What are the rules regarding consideration?
3
What is promissory estoppel, and when can it be used?
4
What is an illusory promise?
5
How are the UCC rules regarding consideration different from the common law rules regarding consideration?
6
What is the difference between a liquidated debt and an unliquidated debt?
7
What is an accord and satisfaction?
CASE OPENER
Upper Deck—Contract Liability or Gift?
In 1988 the Upper Deck Company was a company with an idea for a better baseball card: one that had a hologram on it. By the 1990s the firm was a major corporation worth at least a quarter of a billion dollars.
In 1988, however, its outlook hadn't been so bright. Upper Deck lacked the funds for a $100,000 deposit it needed to buy some special paper by August 1. Without that deposit its contract with the Major League Baseball Players Association would have been jeopardized.
Upper Deck's corporate attorney, Anthony Passante, Jr., loaned the company the money. That evening, the directors of the company accepted the loan and, in gratitude, agreed to give Passante 3 percent of the firm's stock. Passante never sought to collect the stock, and later the company reneged on its promise. Passante sued for breach of oral contract.
1
p. 343
1.
If you were on the jury, how would you decide the case? Was the offer of 3 percent of the firm's stock legal consideration for the loan? Or was it a mere gift?
2.
Does Upper Deck have a moral obligation to give Passante the stock? If so, is this obligation legally enforceable?
The Wrap-Up at the end of the chapter will answer these questions.
at is Consideration?
Consideration
The bargained-for exchange; what each party gets in exchange for his or her promise under a contract.
is required in every contract. It is what a person will receive in return for performing a contract obligation. Suppose Dan agrees to purchase Marty's car for $1,000. Dan's payment of $1,000 is the consideration Marty will receive for the car. Title to and possession of the car are the consideration Dan will receive in exchange. Consideration can be anything, as long as it is the product of a bargained-for exchange. In a business context it is often (.
Washington Court Holds Stipulated Covenant Judgment Sets Minimum Amount of Da...NationalUnderwriter
Washington Court Holds Stipulated Covenant Judgment Sets Minimum Amount of Damages in Bad Faith Case. (from FC&S Legal: The Insurance Coverage Law Information Center)
Recently, Division One of the Court of Appeals of Washington State affirmed a jury verdict awarding $13 million in damages to a passenger injured in a car accident, finding that the $4.15 million agreed amount of the covenant
judgment in the insurance bad faith case sets a floor, not a ceiling, on the damages a jury can award.
In Miller v. Kenny and Safeco Ins. Co.,[1] the Court of Appeals ruled on several additional issues on appeal including whether evidence of an insurance company’s loss reserves is properly admissible at trial.
Similar to Insurance for Real Estate Lawyers OSB RELU June 10 2019 - Seth Row (14)
This document establishes rules for interpreting business property insurance policies in Oregon relating to business interruption claims from events like pandemics. It prohibits certain insurer conduct like failing to timely investigate or pay claims. Insureds can sue for actual damages if insurers violate these rules. The act takes effect immediately.
PPT for ABA SAC 2018 of ICLC Tucson Conference 2018Seth Row
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Opinion granting plaintiffs' msj 17-02-10 reliance is required spending on ...Seth Row
US District Court, District of Oregon, order holding that insurer did not "rely" on insured's alleged misrepresentation by incurring expenses to investigate insured's loss
2014 09-12 plaintiff's reply brief re application of all-sums rule v. time-on...Seth Row
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document is an opinion and order from a United States District Court case between Siltronic Corporation and various insurance companies including Employers Insurance Company of Wausau regarding insurance coverage and payment of defense costs for environmental claims arising from contamination at the Portland Harbor Superfund site. The court considers Siltronic's motion for partial summary judgment that Wausau has a continuing duty to defend Siltronic under its 1978-79 insurance policy and must reimburse unpaid defense costs. The court provides background on the insurance policies and contamination issues before analyzing the relevant policy provisions and ruling on the motions.
National union v. redbox order on msj august 7 2014 wd waSeth Row
This order addresses National Union Fire Insurance Company's motion for summary judgment regarding its duties to defend and indemnify Redbox Automated Retail in various lawsuits. The court grants in part and denies in part the motion. Specifically, the court finds that National Union has a duty to defend Redbox in the Cain lawsuit, which alleges violations of Michigan's video rental privacy law, but not in the Mehrens lawsuit, which alleges violations of California's credit card receipt law. The court also finds that while National Union may issue reservations of rights and set reasonable rate caps when defending insureds, it must do so reasonably and in good faith.
Judge Mosman avoided directly ruling on the application of SB 814 to the defense costs being sought by Schnitzer, instead holding that Schnitzer was judicially estopped from arguing that its defense counsel was "independent counsel" subject to SB 814.
Judge Stewart - Siltronic Order on Allocation of Environmental Response Costs...Seth Row
Judge Stewart's order goes behind the labels applied to various environmental response costs, to the purpose for which the work was done, to determine for insurance purposes whether a cost was "defense" or "indemnity."
1) The attorney, Seth Row, wrote a letter to Senator Shields to express concerns about bill HB 4051, which would allow insurers to provide policy documents via website rather than paper copies. 2) Row believes the bill lacks important protections for policyholders by not ensuring they consent to electronic delivery or have a choice in delivery method. 3) The bill's 10-year retention period for policy documents is also insufficient, as insurance claims often arise decades after a policy is issued, placing policyholders at a disadvantage in "lost policy" disputes.
The Ninth Circuit Court of Appeals ruled that a letter from the EPA under section 104(e) of CERCLA, requesting information from a landowner at a Superfund site, constitutes a "suit" and therefore triggers an insurer's duty to defend. This decision, along with previous trial court rulings in Oregon, establishes that insurers must defend policyholders who receive such information request letters. The court's interpretation of Oregon's environmental insurance claims statute, the OECAA, broadened the definition of "suit" and rejected arguments that the statute impaired contracts. This ruling may impact many involved at the Portland Harbor Superfund Site and other contaminated sites in Oregon.
Multi care health system v. lexington ins. co.Seth Row
This document is a memorandum from a United States Court of Appeals summarizing a case between Multicare Health System and Lexington Insurance Company. The court dismissed Multicare's claims against Lexington with prejudice, finding that Lexington did not have a duty to disclose the self-insured retention amount on the certificate of insurance provided to Multicare. The certificate stated the insurance policy limits but not the retention amount. The court determined that Lexington and USI did not make any affirmative misrepresentations, and they did not have a fiduciary or other special relationship that would create a duty to disclose the retention amount to Multicare. Therefore, Multicare failed to state a claim for misrepresentation or other causes of action.
Anderson Bros v. Travelers 9th Cir Decision August 30 2013Seth Row
This document summarizes an appeals court case regarding whether an insurer had a duty to defend its insured. The insured received two letters from the EPA identifying it as potentially responsible for environmental contamination at a Superfund site. The insurer refused to defend, arguing the letters were not "suits." The court affirmed the lower court's ruling that the letters triggered the duty to defend under the policy. Both letters alleged facts that could establish the insured's liability under CERCLA and Oregon law considers such letters a "suit" in the context of comprehensive general liability policies.
This document is a memorandum in support of a motion in limine regarding the effect of Senate Bill 814 on the parties' agreement concerning defense counsel. It argues that SB 814's independent counsel provisions do not apply in this case for two reasons: 1) The insurance policies give Continental the right to control the defense, triggering the savings clause in SB 814, and 2) The parties previously agreed that Bingham would serve as defense counsel within the traditional tripartite relationship, not as independent counsel, so applying SB 814 would contradict this existing agreement. The memorandum also contends that even if SB 814 did apply, it does not allow Schnitzer to select counsel or pay out-of-forum rates that exceed what is
Findings and Conclusions awarding damages to Ash Grove against Travelers and Liberty Mutual for breach of duty to defend in connection with Portland Harbor Superfund Site.
Charter oak v. interstate mechanical usdc oregon july 2013 mosman papakSeth Row
This document is a court opinion and order regarding various motions for summary judgment in an insurance coverage dispute. The judge adopts the findings and recommendation of the magistrate judge, who recommended granting in part and denying in part several motions for summary judgment. Specifically, the judge agrees that Glacier failed to properly assert a claim for bad faith breach of contract. The judge also finds that Glacier breached its duty to cooperate under the insurance policies by confessing judgment in a related case without notice to the insurers.
Corporate Governance : Scope and Legal Frameworkdevaki57
CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
The presentation deals with the concept of Right to Default Bail laid down under Section 167 of the Code of Criminal Procedure 1973 and Section 187 of Bharatiya Nagarik Suraksha Sanhita 2023.
Capital Punishment by Saif Javed (LLM)ppt.pptxOmGod1
This PowerPoint presentation, titled "Capital Punishment in India: Constitutionality and Rarest of Rare Principle," is a comprehensive exploration of the death penalty within the Indian criminal justice system. Authored by Saif Javed, an LL.M student specializing in Criminal Law and Criminology at Kazi Nazrul University, the presentation delves into the constitutional aspects and ethical debates surrounding capital punishment. It examines key legal provisions, significant case laws, and the specific categories of offenders excluded from the death penalty. The presentation also discusses recent recommendations by the Law Commission of India regarding the gradual abolishment of capital punishment, except for terrorism-related offenses. This detailed analysis aims to foster informed discussions on the future of the death penalty in India.
2. A Horror Story
Dad owned warehouse
Sons' business leased space in warehouse for metal fab shop
Business bought insurance (BOP) ‐ Dad named insured;
business "additional insured"
"Additional insured" endorsement one of TWENTY
endorsements
Fire – warehouse destroyed
Business income coverage for sons’ business? Denied
Trial court: actual intent does not matter
COA AWOP'd last week
Lesson: Details in policy matter
6. Property Coverage
Replacement cost value (RCV) – not actual cost value (ACV)
No non‐standard exclusions ‐ require common forms be used
Cause of Loss – “Special” form (CP 10 30) – “all risk”
No coinsurance penalty ‐ or use agreed value endorsement (or
both)
Ensure aggregate value is sufficient for non‐RCV losses
Disfavor sub‐limits and per‐occurrence limits
Disfavor blanket policies (esp. if coverage includes inventory or
multiple properties)
Low or no deductible
(Additional) named insured
20. POLICY NUMBER: COMMERCIAL PROPERTY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CP 12 18 10 91 Copyright, ISO Commercial Risk Services, Inc., 1990 Page 1 of 2 oo
LOSS PAYABLE PROVISIONS
This endorsement modifies insurance provided under the following:
BUILDING AND PERSONAL PROPERTY COVERAGE FORM
BUILDERS' RISK COVERAGE FORM
CONDOMINIUM ASSOCIATION COVERAGE FORM
CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM
STANDARD PROPERTY POLICY
SCHEDULE
Provisions Applicable
Loss
Payable
Lender's
Loss Payable
Contract
Of Sale
Prem.
No.
Bldg.
No.
Description
of Property
Loss Payee
(Name & Address)
A. When this endorsement is attached to the STAN-
DARD PROPERTY POLICY CP 00 99 the term
Coverage Part in this endorsement is replaced by
the term Policy.
The following is added to the LOSS PAYMENT Loss
Condition, as indicated in the Declarations or by an
"X" in the Schedule:
B. LOSS PAYABLE
For Covered Property in which both you and a
Loss Payee shown in the Schedule or in the Dec-
larations have an insurable interest, we will:
1. Adjust losses with you; and
21. Page 2 of 2 Copyright, ISO Commercial Risk Services, Inc., 1990 CP 12 18 10 91 oo
2. Pay any claim for loss or damage jointly to you
and the Loss Payee, as interests may appear.
C. LENDER'S LOSS PAYABLE
1. The Loss Payee shown in the Schedule or in
the Declarations is a creditor, including a
mortgageholder or trustee, whose interest in
Covered Property is established by such writ-
ten instruments as:
a. Warehouse receipts;
b. A contract for deed;
c. Bills of lading;
d. Financing statements; or
e. Mortgages, deeds of trust, or security
agreements.
2. For Covered Property in which both you and a
Loss Payee have an insurable interest:
a. We will pay for covered loss or damage to
each Loss Payee in their order of prece-
dence, as interests may appear.
b. The Loss Payee has the right to receive
loss payment even if the Loss Payee has
started foreclosure or similar action on the
Covered Property.
c. If we deny your claim because of your acts
or because you have failed to comply with
the terms of the Coverage Part, the Loss
Payee will still have the right to receive loss
payment if the Loss Payee:
(1) Pays any premium due under this Cov-
erage Part at our request if you have
failed to do so;
(2) Submits a signed, sworn proof of loss
within 60 days after receiving notice
from us of your failure to do so; and
(3) Has notified us of any change in owner-
ship, occupancy or substantial change
in risk known to the Loss Payee.
All of the terms of this Coverage Part will
then apply directly to the Loss Payee.
d. If we pay the Loss Payee for any loss or
damage and deny payment to you because
of your acts or because you have failed to
comply with the terms of this Coverage
Part:
(1) The Loss Payee's rights will be trans-
ferred to us to the extent of the amount
we pay; and
(2) The Loss Payee's rights to recover the
full amount of the Loss Payee's claim
will not be impaired.
At our option, we may pay to the Loss
Payee the whole principal on the debt
plus any accrued interest. In this event,
you will pay your remaining debt to us.
3. If we cancel this policy, we will give written
notice to the Loss Payee at least:
a. 10 days before the effective date of cancel-
lation if we cancel for your nonpayment of
premium; or
b. 30 days before the effective date of cancel-
lation if we cancel for any other reason.
4. If we elect not to renew this policy, we will give
written notice to the Loss Payee at least 10
days before the expiration date of this policy.
D. CONTRACT OF SALE
1. The Loss Payee shown in the Schedule or in
the Declarations is a person or organization
you have entered a contract with for the sale of
Covered Property.
2. For Covered Property in which both you and
the Loss Payee have an insurable interest we
will:
a. Adjust losses with you; and
b. Pay any claim for loss or damage jointly to
you and the Loss Payee, as interests may
appear:
3. The following is added to the OTHER INSUR-
ANCE Condition:
For Covered Property that is the subject of a
contract of sale, the word "you" includes the
Loss Payee.