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20 Prac. Real Est. Law. [i] (2004)

handle is hein.ali/prel0020 and id is 1 raw text is: THE PRACTICAL REAL ESTATE LAWYER JANUARY 2004 VOLUME 20/NUMBER 1 Published by The American Law Institute-American Bar Association Committee on Continuing Professional Education six times a year How Does Sarbanes-Oxley Affect Professional Standards For Real Estate Attorneys? Philip D. Weller 7 The Sarbanes-Oxley Act and its rules impose specific whistleblowing responsibilities on attorneys who appear and practice before the Securities and Ex- change Commission in the representation of an issuer. Appear and practice are liberally defined so a real estate attorney could be subject to the Act when helping a real estate developer form a limited liability company or other investment vehicle or when coun- seling a client on a safe harbor exemption from the securities laws. Resolving Environmental Insurance Claims Gita F. Rothschild 15 The existence of coverage for environmental cleanup responsibility under standard general liability insur- ance policies is now well established and extensive lit- igation has defined the general bounds of available coverage. Nonetheless, various unresolved coverage issues impede the quick and efficient settlement of many environmental insurance claims. The author surveys the law and summarizes some of the more hotly contested issues of which you should be aware. Dissecting The Commercial Property Management Agreement (With Checklist) Earl L. Segal and Michael A. Segal 31 Commercial real estate properties are increasingly be- ing managed by third-party managers. The profitably of such properties often depends on the quality of the management agreement. The authors explain the salient terms of a third-party management agreement and furnish practical advice on negotiating and draft- ing these terms. A helpful checklist of management agreement terms is provided. A New Look At Consequential Damages In Construction Damage Claims Joseph A. McManus, Jr. 51 Since the 19th century case Hadley v. Baxendale, conse- quential damages have generated controversy and continue to confound contract drafters today. Al- though the Hadley rule retains its currency in most jur- isdictions, two important areas relevant to construc- tion contracts require different treatment-contracts with the federal government and contracts based on the 1997 A201 General Conditions of the Contract for Construction promulgated by the American Institute of Architects. The author tells you what you need to know. Basic Functions Of A Real Estate Broker Barry R. Brain 59 Real estate brokers do much more than find suitable property for the client by using specialized sources. They also can provide invaluable advice and guid- ance on a host of transactional matters. The forms and Practice Checklists in each issue of The Practical Real Estate Lawyer are avail- able on 3.5-inch floppy disks. For more information or to order, call 1-800-CLE-NEWS. Programs, Publications, and Playbacks Groundbreakers 5 ALI-ABA Real Estate CLE Calendar

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