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Foley & Lardner LLP

Tariffs and Your Contracts: Why do termination rights matter?

Foley & Lardner LLP on

In addition to reviewing your commercial contracts for how new or increased tariff costs are allocated, another key area to evaluate is whether either party has the right to terminate the contract. If one party gets upside...more

Akin Gump Strauss Hauer & Feld LLP

Take or Pay: Does the Law of Penalties Apply?

Q2 2020 saw a tangible increase in the number of queries from clients asking about the enforceability of take or pay clauses common in supply agreements. Intermingled with questions around force majeure, the key issue appears...more

Greenberg Glusker LLP

To Ship or Not to Ship: 3 FAQ’s for Creditors Seeking Guidance Before or During a Retail Bankruptcy

Greenberg Glusker LLP on

COVID-19 has impacted an already shaky retail industry and pushed some of its participants into a rapid-fire series of bankruptcy filings. Although there was already a long list of prominent retail bankruptcies over the past...more

Foley & Lardner LLP

Supply Contract Update: Michigan Court of Appeals Affirms that a Requirements Contract Need Not Be Exclusive (Cadillac Rubber &...

Foley & Lardner LLP on

On February 11, 2020, the Michigan Court of Appeals issued a significant decision that impacts manufacturing supply contracts – especially those in the automotive industry – holding that a buyer may enforce a supply contract...more

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