Today I saw the following in a contract I pulled from the SEC’s EDGAR system: SunPower hereby guarantees that, subject to Section 22, it shall supply and deliver each of the Products to the delivery point specified in a given Purchase Order (each, a Delivery Point ) on or prior to the scheduled delivery date therefor specified in such Purchase … Read More
Currently on my nighttable is Gods at War: Shotgun Takeovers, Government by Deal, and the Private Equity Implosion, by Steven Davidoff. Steven is a professor at the University of Connecticut Law School (click here for his faculty bio page) and is the New York Times’s “Deal Professor.” Before teaching, he practiced for ten years with Shearman & Sterling in its … Read More
December is when the American Bar Association tells its authors how their books did during the year that ended the previous September 30. So a couple of weeks ago I heard how the second edition of MSCD fared during the year starting just four months after its publication in July 2008. Publishers and authors are notoriously cagey about sales information, … Read More
You may recall my September 2009 post regarding my correspondence with Glenn West on that deathless subject, the phrase representations and warranties. (If you’re new to this subject, you may want to consult this handy 558-word summary of my analysis.) Well, Glenn couldn’t leave well enough alone—today I received from him an email on the subject, which he sent to me … Read More
A reader recently asked me about use of the phrase ceteris paribus in contracts. I was unfamiliar with this phrase—no Latin scholar I—so the first thing I did was consult Black’s Law Dictionary, which told me that ceteris paribus means “other things being equal.” I then checked the SEC’s EDGAR system, from which I learned that of the umpteen contracts … Read More
Reader Bob Bramson suggested to me that I have a look at GTE v. Cellexis, 341 F.3d 1 (1st Cir. 2003). So I did. At issue was whether GTE could enforce its settlement agreement with Cellexis so as to preclude Cellexis from suing Cellco, a GTE affiliate that hadn’t been a GTE affiliate when GTE and Cellexis had entered into … Read More
A few readers let me know about a Minnesota bankruptcy court judge who issued a set of guidelines for lawyers submitting proposed orders to him. Included was a request that lawyers limit their use of capitalization. For more information, see this post on Lawyerist.com. My first instinct was to assign this to the wrong side of the litigation-transactional divide. But … Read More
Recently I’ve been having more discussions with companies regarding redrafting their templates. In particular, I recently responded to an RFP (“request for proposal”) from an international company that wanted to redraft its commercial-contract templates. I lost on price, which is frustrating, but this exercise provided a useful introduction to the realities of the no-discussion, and-the-winner-is nature of the closed RFP … Read More
I learned from this post on Language Log that use of commas in a provision of the Bankruptcy Code has become an issue in the bankcruptcy case of the Philadelphia News. Being a veteran of comma-related strife myself, I have a soft spot for such matters. But prevailing in any comma dispute comes a distant second-best to avoiding such fights. … Read More
I’m prone to suggesting that the dysfunction in mainstream contract language can largely be attributed to the precedent-driven nature of transactional work. But perhaps another factor plays a supporting role. (Caveat: what follows is semi-informed speculation.) I suspect that a large majority of analytical materials relating to transactional work are prepared by practitioners. And of those materials, I suspect that … Read More
