Canada: On Account Of Damages: Doesn't Always Mean That Damages Must First Be Proven - McMillan LLP
A recent decision of the British Columbia Court of Appeal, released February 5, 2013, has held that where a buyer has paid a deposit with respect to the purchase of real property and then subsequently fails to complete the transaction, the deposit will be forfeited by the buyer without the seller needing to prove damages provided the contract states that the deposit will be forfeited "on account of damages."
appeal
british
canada
columbia court
decision
llp
mcmillan
transactions
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United States: Court Limits Use Of Zip Codes In Massachusetts Credit Card Transactions - Foley & Lardner
In a recent decision, Tyler v. Michaels Stores, Inc., the Massachusetts Supreme Judicial Court held that zip codes are "personal identification information."
court
credit
decision
foley
identification
information
lardner
massachusetts
michaels
states
supreme
transactions
tyler
united
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The Hidden Cost of Tax Refunds
Most of the nation’s 100 million or so individual filers of federal tax returns will get a refund this year—an estimated 75%, in fact—and for those lucky souls we have a message: Be careful; windfall monetary gifts can be dangerous to your financial health.The culprit is one of the most common decision making biases identified in the past four decades of research in the field of behavioral economics. It’s called “mental accounting,” and it’s a subject visited frequently in this blog. Mental accounting is the process by which the human brain, consciously or otherwise, labels and prioritizes money differently depending on where it comes from (paycheck vs. gift from grandma), where it’s kept (savings account vs. stock market), how it’s spent (home repairs vs. vacation cruise), or size of transaction (we value a $5 discount on a $20 item more than same discount on a $100 purchase). This is often a very useful bias, in that people who otherwise have a difficult time saying ...
avoidance
corporate-tax
decision
instance
million
nation
tendency
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vacation
Cyprus Banks Re-Open; Limits on Transactions
(NICOSIA, Cyprus) — Banks in Cyprus have reopened to customers for the first time in nearly two weeks, with customers now able to access their accounts, albeit with strict restrictions on transactions. Large lines had formed outside some bank branches, particularly those of Laiki, which is to be restructured, before they opened at noon (1000 GMT) Thursday. Some Laiki branches in central Nicosia had not opened exactly on time, with customers waiting patiently outside. Banks have been shut since March 16 while politicians wrangled over how to come up with enough funds to qualify for an international bailout. That agreement was finally reached in Brussels early Monday. Cypriots get their first chance to access their savings in almost two weeks when the country’s banks reopen Thursday — albeit with strict restrictions on transactions — after being closed due to the country’s acute financial crisis. Queues were starting to form outside banks Thursday morning ahead of the official opening ...
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agreement
atms
bail-in
billion
brussels
business
currency
cypriots
cyprus
decision
europe
finance
gmt
laiki
ministry
nicosia
payments
police
restrictions
securities
transactions
Canada: Ontario Court Of Appeal Signals Greater Scrutiny Of Restrictive Covenants - Norton Rose Canada LLP
Employers will need to take greater care in drafting non-competition and non-solicitation covenants in the context of commercial transactions following a recent Ontario Court of Appeal decision.
appeal
canada
court
covenants
decision
llp
norton
ontario
transactions
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