How Long Is Six Months?

Statutory time periods can be ambiguous.  For example, what does "six months" mean when one month has 28 or 29 days, other months have 30 days and still others have 31 days. 

The Nebulous Meaning Of "Small Business" In New Ban On Commercial Loan Fees

Beginning in January, "covered entities" will be prohibited from charging specified fees in connection with a commercial financing transaction with a "small business" or "small business" owner.  Cal. Stat. ch. 881 (SB 666). Although relatively brief,...

Nevada Supreme Court Defines Blue Penciling Obligation Of Courts

In 2016, I wrote about the Nevada Supreme Court's refusal to "blue pencil" non-compete agreements so as to make them enforceable.  Golden Road Motor Inn, Inc. v. Islam, 132 Nev. 476, 488, 376 P.3d 151, 159 (2016).  The Nevada legislature was not in...

Unlicensed Lender Parries Unfair Competition Claim

Yesterday's post concerned discussed Lagrisola v. North American Financial Corp., 2023 WL 7273708 (Nov. 3, 2023), in which the Court of Appeal held that a borrower had failed to plead a cause of action against an unlicensed lender under Section...

Court Of Appeal Finds No Private Right Of Action Against Unlicensed Lender

Section 22100 of the California Financial Code prohibits persons from engaging in the business of a finance lender or broker without obtaining a license from the California Commissioner of Financial Protection & Innovation. Section 22751 provides...

Is Attaching Several Documents To A Single Email Procedurally Unconscionable?

In the high and far-off times, physical delivery was the only option of providing documents to the other side. Before copy machines, an agreement would be written and then rewritten on the same page. The two copies would be separated by cutting them...

Court Finds That The SEC Acted Arbitrarily and Capriciously In Adopting Share Repurchase Rule

When the Securities and Exchange Commission proposed to adopt a rule a rule requiring issuers to report day-to-day share repurchase data once a quarter and to disclose the reason why the issuer repurchased shares of its own stock, I submitted a ...

May A Joint Venturer Withdraw From A Joint Venture In Order To Pursue A Joint Venture Opportunity?

California's Uniform Partnership Act of 1994 provides that a partner has a duty to refrain from competing with the partnership in the conduct of the partnership business "before the dissolution of the partnership". Cal. Corp. Code § 16404(b)(3)....

May Directors Vote By Proxy?

Neither California's nor Delaware's General Corporation Law expressly prohibits directors from being represented by proxy at board meetings. However, it appears to have been well settled in Delaware since at least 1915 that directors may not vote by...

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