Through M&A Law Prof, I learned of a paper by John Coates, a professor at Harvard Law School, entitled Managing Disputes Through Contract: Evidence from M&A. It considers dispute-management provisions in a sample of 120 randomly chosen M&A contracts from 2007 and 2008. Here’s the abstract: An important set of contract terms manages potential disputes. In a detailed, hand-coded sample … Read More
As you probably know, Google and Motorola Mobility recently entered into a merger agreement providing for Google’s acquisition of Motorola. (Go here for a copy.) If you’re interested in the deal terms, there are plenty of other places you could look. Me, I’m interested in the drafting—more specifically, the language and structure of the merger agreement. So I’ve prepared an outline … Read More
I’d appreciate your thoughts on the phrase “by wire transfer of immediately available funds”. Are wire-transfer funds always immediately available? If not, why not? Is it a function of the person paying or the person receiving? What, if anything, does the Uniform Commercial Code have to say? How do things work outside the U.S.? Would some other formulation be clearer?
The opinion just issued by the Eighth Circuit Court of Appeals in Anderson v. Hess Corporation (go here for a PDF copy) primarily concerns the phrase “drilling or reworking operations”. It occurs several times in the five mineral leases at issue. Does “drilling” constitute a noun, or is it an adjective modifying “operations”? In other words, the question posed was, … Read More
I’m gearing up for the fall seminar season. Here are the public “Drafting Clearer Contracts” seminars I’ll be giving through the end of the year: Boston, MA, September 15 (Hey, Bingham associates—it’s being held in your building!) Minneapolis, MN, October 12 Washington, D.C., October 25 New York, NY, November 2 Toronto, ON, November 16 Santa Clara, CA, December 8 I … Read More
In its recent opinion in Kevin M. Ehringer Enterprises, Inc. v. McData Services Corp. (go here for a PDF copy), the Fifth Circuit Court of Appeals reversed a jury award and granted a defendant’s motion for a judgment as a matter of law—the defendant’s “best efforts” promise wasn’t an enforceable promise and so couldn’t form the basis of a fraudulent-inducement … Read More
In its recent opinion in Mosser Construction, Inc. v. Travelers Indemnity Co. (go here for a PDF copy), the Sixth Circuit Court of Appeals devotes several pages to the meaning of “subcontractor” for purposes of an insurance policy. Why? Because “subcontractor” exhibits lexical ambiguity: Is any supplier to the contractor a subcontractor, or is something more required? I’ll leave you … Read More
Last week Thomson Reuters announced the launch of Westlaw Form Builder: Westlaw Form Builder has been launched—an online document assembly tool that helps attorneys find, assemble and review legal forms with greater speed and accuracy. Attorneys can access more than 20,000 forms anytime and anywhere they have an Internet connection. Forms are customizable, continually updated by Westlaw editors, and have … Read More
I’m revising the guidance to Koncision’s confidentiality-agreement template to note that being bound by a confidentiality agreement might not preclude an employee from acting as a whistleblower and disclosing information that might otherwise be covered by the confidentiality agreement. In that regard, consider section 21F-17(a) of the Securities Exchange Act of 1934, which implements the Dodd-Frank Act’s securities whistleblower provisions. … Read More
Paul Lippe, the driving force behind Legal OnRamp, writes a blog for the ABA Journal. The most recent post, available here, is entitled “What Aspects of Legal Services Are Most Likely to Get Standardized?” Here’s the bit that caught my eye: Standardization is not the same as “commoditization,” that great bugaboo of lawyers (I’m not sure what ‘commoditization” is, and … Read More
