Incentive Insider

B. New York*1. Crocker-Wheeler Elec. Co. v Johns-Pratt Co.*One of the earliest cases to deal with the subject of reliance upon a representation, Crocker-Wheeler presents an instance in which a manufacturer of wiring insulation was sued over the product claims.

I. The Law TodayMany states have yet to consider the issue of whether a buyer must show reliance in order to proceed with a claim of breach of express warranty. Two states, however, have considered the issue a number of times, and reached almost polar opposite conclusions.

IntroductionIn the area of post-closing indemnification clauses, there exists a subset of provisions sometimes referred to as the sandbagging, or anti-sandbagging, provision. A sandbagging provision, often labeled as “Expectations” or “Benefit of the Bargain,” will generally provide that the right to indemnification is not affected by the knowledge of either party at any time.

ConclusionThe Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 introduced several small but important changes to the bankruptcy code that proved to improve the overall status of secured tax claims.