Morgan v. Sundance, Inc., and its Implications Pertaining to Litigants and the Right to Arbitrate
The use of arbitration clauses and agreements is not infrequent, forcing federal and state courts to address the enforceability of such agreements on numerous grounds. Courts have created variants of federal procedural rules, specific to arbitration. Specifically, over the years, nine of the twelve circuit courts[1] have affirmed an arbitration-specific rule pertaining to waiver in…
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Checks and Balances in Action: The Judiciary Increases its Constitutional Scrutiny of Certain ALJ Proceedings
Historically, the SEC could only bring enforcement actions in Article III courts.1 That began to change in 1990 with the Securities Enforcement Remedies and Penny Stock Reform Act, which allowed the agency to bring certain actions in administrative tribunals.2 The Dodd-Frank Act of 2010 gave the SEC the full ability to use administrative tribunals; by…
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Apple iOS 16 Release: Should You Think Twice Before Rewriting History?
Each year Apple iPhone users worldwide are on the edge of their seats to get a glimpse of the new features the Apple iOS release will bring at the Worldwide Developer Conference (WWDC). This year didn’t disappoint with new features ranging from enhanced personalization to the previously bland locked screen to our personal favorite, SharePlay…
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Does Involvement in the Cannabis Industry Preclude Your Business From Bankruptcy Protection?
Despite the growing public acceptance of marijuana and the fact that a majority of states have legalized marijuana for medicinal purposes (37 states and the District of Columbia have enacted medical marijuana legislation), federal law still treats marijuana cultivation and sale as a criminal offense. See 21 U.S.C. § 801, et seq. As bankruptcy is only…
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The Rhode Island Cannabis Act: New Laws for Recreational Users, Retailers, and Manufacturers
On May 25, 2022, the Rhode Island Legislature enacted the Rhode Island Cannabis Act to legalize and regulate the recreational use of cannabis. The sale of cannabis by licensed retailers may begin on December 1, 2022. The Act imposes restrictions on the personal use of cannabis and penalties for individual violations. It also imposes taxes…
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Like-Kind Exchanges May No Longer Be Likeable – An Overview of Current Law and Preview of Proposed Changes
Under Section 1031 of the Internal Revenue Code (“Code”), a taxpayer may defer recognition of capital gains on exchanges of qualifying property in a process known as a “like-kind exchange” or “1031 exchange.” Under the Tax Cuts and Jobs Act of 2017, Code Section 1031 applies only to exchange of real property and not personal…
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Using an Unregistered Broker-Dealer for Capital Raising is a Risky Proposition
One of the most overlooked and problematic issues concerning capital raising by small businesses, venture capital funds, and private equity funds is the use of “finders” to assist issuers with raising capital. Those who act as “finders” assist in matching issuers with investors for a fee. Issuers generally desire to pay a “finders’ fee” only…
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USD London Interbank Offered Rate (LIBOR) Cessation: 6 Month Update
Now nearing six months from the date that several US agencies recommended for the cessation of new U.S. Dollar LIBOR contracts (December 31, 2021), a clear winner has emerged as the replacement rate for floating rate commercial loans: CME Term SOFR. While certain tenors of LIBOR will be published through June 30, 2023, to allow…
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Artificial Intelligence and the Americans with Disabilities Act
Throughout recent years, the use of artificial intelligence (“AI”) software in the recruitment and hiring of employees has rapidly increased in popularity. AI software has gained traction as a valuable tool in streamlining the hiring process, and employers have embraced it to assist them in various employee-related decisions, while regulators have been hesitant to accept…
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Navigating the Legalities, Pros, and Cons of Short-Term Rentals
Growth of Short-Term Rental Industry. Since 1995, the short-term rental industry has grown enormously with the launching of short-term rental companies such as Vrbo in 1995, Airbnb in 2008, and HomeToGo in 2014. Specifically, a 2022 National Business Institute article stated that by 2019, the U.S. short-term rental industry had grown to a $115 Billion…
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