In the recent decision of Krishnamohan v HMRC [2024] UKFTT 346 (“Krishnamohan”) the UK’s First-tier Tribunal (“FTT”) recently held that the granting of a revocable option did not give rise to the granting of an option for UK...more
This decision has confirmed that a court can grant relief from forfeiture in relation to a tenant’s option to take a new lease. It is a useful reminder for landlords that forfeiture does not apply solely to leases, and is a...more
A recent case weighed the extent to which a purchaser was able to negotiate terms when exercising a purchase of property under an option in a lease. The litigation began when, after the tenant/buyer exercised its purchase...more
On March 21, 2022, the Court of Special Appeals of Maryland (the “Court”) decided in Peterbilt of Baltimore LLC v. Capitol Gateway Properties, LLC that provisions of an option to purchase (the “Option”) pursuant to the...more
One of the banes of any practicing patent attorney's professional existence is counseling clients on licensing agreements where the parties attempt to avoid setting forth definitive terms on contract provisions regarding...more
In my last post, “Real Estate Alphabet Soup: N is for Notice” I continued my primer on the “alphabet soup” of real estate. This post continues to stir the “alphabet soup” with the letter “O.” O is for “Option”. In both the...more
For homebuilders, financing a real estate transaction, oftentimes via an institutional lender, is common place in the industry. But what is land banking and why should it be considered by homebuilders? Land banking is an...more
According to the Straits Times, QT Vascular, a Singapore-based medical device company, reached an asset purchase and option agreement to sell its intellectual property rights to some of its non-drug coated coronary products,...more
On November 14, 2017, the Court of Appeals (Division 1), in Offerman v. Granada, LLC, 2017 WL 5352664, reversed a trial court order directing specific performance of an alleged option to purchase real property, holding that...more
On December 1, 2017, the Chicago Mercantile Exchange and CBOE Futures Exchange took the necessary regulatory steps to begin trading new bitcoin futures contracts this month. The Cantor Exchange took similar steps to begin...more
International business transactions can be subject to intense scrutiny due to the broad scope of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, in addition to other similar anti-corruption measures...more
Parties that enter into “basket option contracts” and “basket contracts” should be aware that the IRS is likely to challenge such transactions and that they have a new obligation to report the transactions to the IRS or face...more
The recent, dramatic decline in the price of oil illustrates the risk that every oil and gas producer has to declining energy commodity prices. This paper discusses various methods for “hedging” or reducing price risk. In...more
The regulatory authority of the U.S. Commodity Futures Trading Commission (“CFTC”) covers “options” which are adroitly defined as “transaction(s) . . . held out to be of the character of, or . . . commonly known to the trade...more
In a rising real estate market, we tend to see more disputes relating to purchase options. Given the increase in value, the property owner would rather avoid the option and sell at a higher price. The option holder can make...more
In Schron v. Troutman Saunders LLP, 2013 NY Slip Op 00952 (N.Y. Feb 24, 2013), the New York Court of Appeals held that the phrase “other good and valuable consideration” within a contract was not ambiguous, and therefore...more
On February 11, the Commodity Futures Trading Commission issued an amended order that allows Cantor Clearinghouse, L.P. (Cantor), a registered derivatives clearing organization, to clear...more