Fraudster and victim both fail to shift loss
By Stephen M. Proctor
Business Advice and Financial Planning,
January 2018
In three recent cases, the perpetrator of the fraud and the victim failed in their efforts to shift their loss.
Requirements contract or not? No courts agree
By Stephen M. Proctor
Business Advice and Financial Planning,
March 2016
Any buyer that expects to have an assured supply of products by purchasing its requirements from a specific seller should make clear in the agreement that the buyer is also committing to purchase its requirements from the seller exclusively, exposing the buyer to damages if the buyer goes elsewhere for it products.
Action to “pierce corporate veil” fails—Another creditor spurned
By Stephen M. Proctor
Business and Securities Law,
June 2013
The recent case of On Command Video Corporation v. Samuel J. Roti follows other cases in which the 7th Circuit has shown itself decidedly unfriendly to creditors who sought compensation through the courts in failed business ventures but could have, but failed, to prevent their unfortunate situation.
Hazards of failure to register as a foreign corporation
By Stephen M. Proctor
Corporate Law Departments,
June 2011
Although registering as a foreign corporation will subject the corporation to the state’s jurisdiction and taxation, some consequences, as shown in Centralia Mining Co., v. Deneen Crawford, could be even more severe.
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