“PER HOME” SIRS OR DEDUCTIBLES IN MULTI-HOME CONSTRUCTION DEFECT LAWSUITS
This case establishes that clear language is needed to inform an insured as to how an SIR or a deductible will be applied in a multi-home CD case.
PRODUCT LIABILITY PREVENTION PROGRAMS
Manufacturers should adopt an internal Product Liability Prevention (“PLP”) program. The first step in developing a PLP is to select a team leader. Larger companies should create a team to help this person deal with overall issues, especially in multi-plant organizations.
WINNING ISN’T EVERYTHING WHEN IT COMES TO A PONZI SCHEME
Ponzi schemes are fraudulent operations because the returns are paid from money obtained through subsequent investors, rather than any actual profits earned. Due to this structure, Ponzi schemes require an ever-increasing flow of new money, and ultimately collapse because the earnings are less than the returns paid out to investors.
EMPLOYEE OR INDEPENDENT CONTRACTOR?
For businesses, classifying workers as independent contractors versus W-2 employees is a dangerous trap for the unwary. It is tempting for businesses to do so because they do not have to carry worker’s compensation insurance, pay payroll taxes, take tax withholdings, pay overtime, etc., for independent contractors.
BORROWER RIGHTS DURING THE FORECLOSURE PROCESS
In 2008, Governor Arnold Schwarzenegger signed California SB 1137 (a.k.a. the Perata Mortgage Relief Bill) into law. The law requires lenders holding loans made between January 1, 2003 and December 31, 2007 to begin contacting homeowners at least 30 days before issuing a notice of default.
DURATION OF A MECHANIC’S LIEN IN NEVADA
There are many deadlines and timeframes that must be adhered to in order to protect a lien claimant’s legal rights. It is particularly important that a lien claimant in Nevada is aware of the duration of a lien, and the timeframe in which to bring an action to enforce a lien in a proper court.
SHORT SALES AND DEFICIENCY JUDGMENTS
As declining residential property values are starting to stabilize, mortgage lenders are approving more Short Sales as an alternative to foreclosure. A homeowner may elect to pursue a Short Sale when the fair market value of the property is less then the amount of the loan, and the owner cannot cover the mortgage payments.