International Trade: Alert - November 3, 2009
The Obama administration has adopted a dual-track strategy toward Iran by opening a dialogue while also laying the groundwork for tougher sanctions. In addition to discussing this and other developments in U.S.-Iran relations, this alert examines what tougher sanctions – as well as pending House and Senate bills and increasingly aggressive actions taken by federal agencies against specific foreign entities that are believed to have violated U.S. embargo or export laws – could mean for foreign companies and U.S. subsidiaries that do business with Iran, particularly its petroleum industry.
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Real Estate: Alert - November 4, 2009
The Interstate Land Sales Full Disclosure Act (ILSA) is not a talisman that transforms a condo purchaser’s “buyer’s remorse” into a legally cognizable defense to a breach of contract claim, or so goes the clear implication of the Eleventh Circuit’s recent unanimous opinion, Stein v. Paradigm Mirasol, LLC. In broad context, the Court's decision is best understood as its attempt to inject some common sense into the two-year completion exemption. The ruling must be welcome news to condo developers because it is likely to dampen – at least temporarily – the recent proliferation of lawsuits from unhappy residential condo purchasers seeking to reverse or escape deals that have proven to be bad financial investments.
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