Fraudulent Transfer

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Customer Reviews

Aptix Corp. v. Quickturn Design Systems, Inc.; A transfer is fraudulent if made with the actual intent to hinder, delay, or defraud a creditor; loan was a fraudulent transfer. Badges of Fraud.

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Lost Check

Fifth Third Bank v. Jones; A check is taken for an obligation when it is given as payment, without regard to the payee's internal procedures; missing check; deed of trust.

Lease or Sale

Gibraltar Financial Corp. v. Prestige Equipment Corp.; court must consider economic reality of transaction to detemine whether it was a lease or a sale subject to a security agreement.

Cross-Collateral

In re Zaochney; A dragnet clause or cross-collateralization clause that provides that collateral in one transaction will be security for other obligations is enforceable.

Economic Loss Doctrine

Lincoln Co. v. Detroit Diesel Corp. General Insurance; breach of warranty; no exception to the economic loss doctrine for damages to a defective product when an inherent defect makes the product unreasonably dangerous.

Third Party Beneficiary Contract

Basic Capital Management, Inc. v. Dynex Commercial, Inc.; benefit to third party must be written in the contract; court will not create a third party beneficiary contract by implication; no implied contract for third party.

Construction Defect Damages

Landis v. William Fannin Builders, Inc.; damages in an action for breach of a construction contract is the cost to repair the deficient work; economic waste doctrine.

Online Agreements

Specht v. Netscape Communications Corp.; clicking on a DOWNLOAD button does not communicate assent to contractual terms if the offer did not make clear; inquiry notice; constructive notice.

Contractual Basis for Arbitration

Stolt-Nielsen S.A. v. AnimalFeeds International Corp.; A party may not be compelled under the FAA to submit to class arbitration unless there is a contractual basis for concluding that the party agreed to do so. Federal Arbitration Act.

Penalty Clause Damages

Lake River Corp. v. Carborundum Co.; liquidated damages clauses are enforceable but penalty damages clauses are not enforceable.

Third Party Beneficiary Standing

Sisney v. State; a contract made expressly for the benefit of a third person may be enforced by that person, but only when the intent to make the contract inure to the benefit of the third party is clearly manifest.

Clickwrap Agreement

Hancock v. American Telephone & Telegraph, Inc.; When customers are given notice of the terms and conditions of a contract via a clickwrap agreement and must affirmatively manifest assent by clicking I Agree, the clickwrap agreements is valid.

Moral Obligation as Consideration

Mills v. Wyman; A promise based only on a moral obligation is made without consideration and not enforceable.

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Fraudulent Transfer

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