Dear members of the constituency list of the Commercial Transactions Committee: The following is an update analyzing a recent case of interest: Bankruptcy Court Denies Enforcement of Clause Limiting Liability of Amazon Services as Damages Unascertainable at Time of Agreement and as Against Public Policy A bankruptcy court in Arizona denied enforcement of a clause limiting the liability of Amazon Services LLC in transactions arising under the Amazon Services Business Solutions Agreement (Agreement), ruling that at the time the Agreement… Read more
In an unpublished decision, the Ninth Circuit affirmed the District Court’s dismissal of a debtor’s claims against a creditor and credit reporting agencies for failure to report payments after discharge, but reversed the District Court holding that a debtor cannot pursue a claim against a lender for failing to report a positive payment history during the bankruptcy proceeding and prior to discharge. Read more
Many FinTech Companies’ missions are similar: democratize financial services , create an open financial system , and have every individual participate and thrive in the economy. Read more
The passage of the California Consumer Privacy Act (CCPA), its multiple amendments and revisions, and the recent support of a majority of California voters to pass Proposition 24, the California Privacy Rights Act, aimed at enhancing it, reflects how privacy issues occupy consumers’ attention and consequently, are on the radar of companies who collect information about California residents. Read more
It is common that an individual will transfer real property to an LLC either to pursue asset protection or to achieve estate and gift planning. Read more
The Pew Research Center survey on Americans and Privacy found most Americans have been asked to agree to a company’s privacy policy and that 22% always or often read the privacy notice, while another 38% sometimes read the notice. Read more
Most of us never would have imagined that there would come a day when we would flinch at the thought of touching a credit card machine or at the prospect of leaving the safety of our homes simply for groceries. Read more
Covid-19 treatment progresses further, as eligibility for vaccinations broadens: After April 1, 2021 for citizens over the age of 50 and after April 15, 2021 for those over the age of 16. Read more