Articles From Stephen M. Proctor

Fraudster and victim both fail to shift loss By Stephen M. Proctor Business Advice and Financial Planning, January 2018 In three recent cases, the perpetrator of the fraud and the victim failed in their efforts to shift their loss.
Requirements contract or not? No courts agree By Stephen M. Proctor Business Advice and Financial Planning, March 2016 Any buyer that expects to have an assured supply of products by purchasing its requirements from a specific seller should make clear in the agreement that the buyer is also committing to purchase its requirements from the seller exclusively, exposing the buyer to damages if the buyer goes elsewhere for it products.
Action to “pierce corporate veil” fails—Another creditor spurned By Stephen M. Proctor Business and Securities Law, June 2013 The recent case of On Command Video Corporation v. Samuel J. Roti follows other cases in which the 7th Circuit has shown itself decidedly unfriendly to creditors who sought compensation through the courts in failed business ventures but could have, but failed, to prevent their unfortunate situation.
Statute of Frauds defense fails based on course of dealing By Stephen M. Proctor Business and Securities Law, May 2013 The recent case of Irvington Elevator Company, Inc. v. Robert Heser et. al. illustrates the importance of a binding written contract, to avoid the statute of frauds.
Hazards of failure to register as a foreign corporation By Stephen M. Proctor Corporate Law Departments, June 2011 Although registering as a foreign corporation will subject the corporation to the state’s jurisdiction and taxation, some consequences, as shown in Centralia Mining Co., v. Deneen Crawford, could be even more severe.

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