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Daily Decision Service Alert: Vol. 21, No. 210 – October 26, 2012
Daily decision alert.The Benefits and Pitfalls of Using Letters of Intent in Leasing Transactions
It is becoming more and more commonplace in real estate transactions for parties to use a Letter of Intent before negotiating and drafting a commercial lease. The LOI can serve as a negotiating device that addresses the proposed transaction and that maps where the relationship between the parties is heading. While LOIs can save money and time, without proper understanding, an LOI can create problems and unforeseen consequences due to the inherent shortfalls associated with this negotiating tool.Docket Watch: Upcoming Arguments at the Supreme Court
Cases coming before the Supreme Court in the coming weeks and the lawyers who will argue them. "Docket Watch" appears at the beginning of each two-week argument cycle when the high court hears cases.
Study: One in 10 Federal Judges Took Trips on Other People's Dime
The Center for Public Integrity says that in the past 4-1/2 years, 11 percent of federal judges reported attending at least one seminar at which foundations or corporations paid for air fare, hotels and meals.
Leases Receive Favorable Investment Capital Treatment
In their Tax Appeals Tribunal column, Joseph Lipari and Debra Silverman Herman, partners at Roberts & Holland, write that probably the most unusual aspect of the New York State Corporate Franchise Tax and the New York City General Corporation Tax is the distinction in both taxes between "business capital" and "investment capital."Texas Crude: Price Setting in Good Faith
The 5th Circuit ruled in August that Exxon Corp. breached its obligation of good faith under the UCC by setting wholesale gasoline prices so high that a group of franchisees in Texas could not compete. Practitioners nationwide should be prepared to confront similar arguments by dealers or franchisees who seek lower prices in their open price term contracts.
Thinking Big: General Counsel Lays Firm Foundation for Construction Company
Charles E. Hardy is the top lawyer for a company that leaves a big footprint. He is general counsel for Austin Industries Inc., a Dallas-based group of construction companies that works on projects such as high-rise buildings, airport terminals, bridges, hospitals, highways and power plants.Austrian wines make a comeback after scandal
I'M NOT SURE why American sommeliers keep pushing Austrian Gruener Veltliner wines, which at their best taste like highly refined, slightly sweet petroleum. Oddly enough, those same sommeliers seem to love that signature aroma and taste. Not me. Yet there are other Austrian wines that have been produced for ages and are considerably better and more interesting.Trending Stories
- 1Uber Files RICO Suit Against Plaintiff-Side Firms Alleging Fraudulent Injury Claims
- 2The Law Firm Disrupted: Scrutinizing the Elephant More Than the Mouse
- 3Inherent Diminished Value Damages Unavailable to 3rd-Party Claimants, Court Says
- 4Pa. Defense Firm Sued by Client Over Ex-Eagles Player's $43.5M Med Mal Win
- 5Losses Mount at Morris Manning, but Departing Ex-Chair Stays Bullish About His Old Firm's Future
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