Law Commons^™

Greenbacks For Building Green: Does A Lender For Sustainable Construction Projects Need To Make Adjustments To Its Current Practices?, Darren Prum

Darren A. Prum

In the development of real property, the availability of money to secure construction resources becomes an important factor for success. The construction loan plays a central role in providing funds to erect a building on real property, but a lender faces numerous exposures that might result in a loss. In evaluating a project to determine its viability and to uncover any exposure it might present, a lender will conduct an extensive underwriting review process and will use mitigation techniques through the construction loan agreement and disbursement requirements to reduce the perceived risks to an acceptable business level, for those developments …

The Next Green Issue: Considering Property Insurance For The Green Building, Darren A. Prum

Darren A. Prum

As government policies across the country try to encourage more environmentally friendly buildings, the next green issue facing the owners of the completed structure is obtaining the proper insurance coverage to protect their investment. A typical property insurance policy covers the costs to reconstruct or replace property damaged as the result of a casualty, so the Insurance Service Organization and other carriers offer specific green building endorsements in an effort to augment the underlying property policy. However, these buildings maintain unique characteristics, which becomes relevant to the owner and policy underwriter as well as other stakeholders like the holder of …

Terms Of Engagement: What Does All That Contract Legalese Really Mean And How Can We Better Teach It To Our Students?, Robert Aalberts, I. Scott Bogatz, Darren Prum

Darren A. Prum

Teaching the law of contracts has always been one of the most fundamental tasks that legal studies/business law professors carry out. Truly, no legally successful business transaction can be realized without a commanding knowledge of contract law. Still, most of our time in the classroom focuses on teaching the elements of a contract accompanied by illustrative appellate level cases rather than explaining and discussing what the important terms and clauses in a typical contract really mean. Knowing the important terms that appear in most contracts and how they relate to contract law can add a significant and essential dimension to …

The Bonds That Tie: Will A Performance Bond Require That A Surety Deliver A Certified Green Building?, Darren Prum, Lorilee Medders

Darren A. Prum

In 2006, the city of Washington, D. C. passed landmark legislation that introduced green building requirements for various types of structures into the jurisdiction over a five-year period. A noteworthy aspect of the legislation directed construction projects within the district to purchase green performance bonds up to $3 million to guard against a privately owned project’s failure to meet its green building aspirations. In essence, this law placed the burden of guaranteeing compliance with the government’s policy upon the contractors and sureties of a green building project.

Following the passage of this act, confusion amongst the construction industry and sureties …

Green Building Liability: Considering The Applicable Standard Of Care & Strategies For Establishing A Different Level By Agreement, Darren Prum

Darren A. Prum

Recently, many in the construction industry appear to be adopting the standards and practices of green buildings on new and existing projects. With this shift to more sustainable approaches by the various participants and with the corresponding need for parties that specialize in these practices to fulfill an owner’s goals, the applicable standard of care for a given relationship when a problem occurs also may become an undetermined and overlooked risk for those involved in these types of projects. As such, the applicable standard of care for liability situations concerning green building construction will inevitably become an issue the courts …

Green Building Contracts: Considering The Roles Of Consequential Damages & Limitation Of Liability Provisions, Darren Prum, Stephen Del Percio

Darren A. Prum

The green building market continues to grow, but so do the corresponding legal risks which are only now being explored by scholars and practitioners. Lurking in the shadows behind any green building risk management strategy is how consequential damages - damages which may flow from a party's breach of a design, construction, or consulting contract - should be allocated among project stakeholders. This allocation is particularly critical on green building projects, whose unique and novel nature can create an increased potential for consequential damages. For example, green building tax credits, premium rents, and even energy savings might fall within the …

Lottery Tickets Sold After The Featured Prize Is Claimed: Will The Courts Force The Practice To Be Stopped?, Darren Prum

Darren A. Prum

No abstract provided.

Green Building Claims: What Theories Will A Plaintiff Pursue, Who Has Exposure, And A Proposal For Risk Mitigation, Darren Prum, Stephen Del Percio

Darren A. Prum

No abstract provided.

Enforcement Of Gaming Debt, Darren Prum

Darren A. Prum

No abstract provided.