Many suppliers of goods have long-standing credit relationships with certain purchasers. A recent decision by the United States Bankruptcy Court for the District of Massachusetts illustrates the precarious situation a supplier can find itself in when it alters the terms of a credit agreement after learning the purchaser is in financial difficulty. The decision involved […]
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Many real estate purchase and sale agreements contain a specific deadline by which the parties must perform and a clause stating that “time is of the essence.” This clause makes the deadline a condition subsequent, and if the deadline is not met or waived, then the parties’ obligations to each other are extinguished. Although “time […]
Until recently, Massachusetts federal courts had not determined whether a debt collector violates the Fair Debt Collection Practices Act (“FDCPA”) by failing to state whether interest is accruing (or not accruing) when offering to settle a consumer debt. In a recent ruling, a Magistrate Judge for the United States District Court for the District of […]
A choice of law provision allows parties to agree that the law of a particular state will apply to the interpretation of a contract and any conflict arising therefrom. Choice of law provisions are particularly important when the parties are from different states and there are significant differences between the laws of the differing states. […]
Imagine you receive an email from a known creditor containing an invoice for an account payable. The email contains instructions for you to pay the invoice through an accredited clearing house (“ACH”). The email further contains the creditor’s bank account information for depositing the ACH payment. You pay the invoice by depositing the ACH payment […]
