What do recitals of contractual obligation actually do? Pennsylvania, uniquely, permits parties to contract into obligations under the Uniform Written Obligations Act. But many other states permit mere recitals of consideration to conclusively establish the enforceability of a contract, even gratuitous promises otherwise unsupported by bargained-for-exchange. In contract theory, the enforceability of such naked recitals
Cybercrime, as numerous almost daily headlines tell us, is understandably a favored tactic of organized criminals. The crimes can be committed far from the locus of the harm and do not involve face-to-face confrontations, are capable of repetition once devised, and can be highly lucrative. From organized computer wizards in Eastern Europe, to governmental actors
Recently, New York’s Department of Financial Services (“DFS”), the State’s banking and insurance regulator, identified two challenges to effective financial regulation: (1) deterrence for individual bad actors and (2) adequate anti-money laundering (“AML”) compliance by banks and other financial institutions. According to the DFS, federal regulation has been insufficient to address these challenges. Thus, like
This February, Temple Law sent a team coached by Professors Ed Ellers and Jonathan Lipson to the National Transactional LawMeet Mid-Atlantic Regional Competition at Benjamin N. Cardozo Law School in New York. The Transactional LawMeet places dozens of law school teams in the role of counsel tasked with negotiating a simulated business transaction. This year,
Tech is having a moment, and in Philadelphia, the community engaged in that moment is congregating around the city’s urban core. This was the message Christopher Wink (CLA ’08), Co-Founder and Editorial Director of Technical.ly, delivered when he spoke with law students enrolled in Professor Jonathan Lipson’s Transactional Skills Workshop, a course in which students
Law school is an experience unlike any other. Sometimes that experience is great. Sometimes it is not. Most times, it’s a little of both, and always, it is memorable. Similarly, no one law professor is like another, but you’ll remember them all, for the good, the bad, or the both, long after graduation. Since its
When a corporation is acquired for cash in a merger, Delaware, the corporate home of many public companies, generally provides stockholders with appraisal rights. Appraisal allows dissenting stockholders who comply with the requirements set forth in Section 262 of the Delaware General Corporation Law to seek a judicial determination of the “fair value” of their
As legal-snark-lovers know, you can’t do much better than Above the Law (ATL), a website devoted to exposing the foibles and failings of lawyers, the legal system, and law schools. Rapidly becoming a media force in its own right, ATL held a “converge” in New York Wednesday, March 18 on media, technology, and the future
This January, President Obama announced a series of initiatives aimed at protecting consumer data. One of these proposals is the Personal Data Notification and Protection Act (“PDNPA” or “Act”), which would create a federal standard for data breach notifications. If passed, businesses will need to know these new requirements to prepare adequately for a data
Dissolving a business comes with a host of complicated legal issues, and the Superior Court of Pennsylvania recently added one more to the list. In Red Vision Systems, Inc. v. National Real Estate Information Services, L.P., 2015 Pa. Super. 5 (2015), the Court held for the first time that the attorney-client privilege dissolves along with