Can a Non-Binding Term Sheet Ever Support a Claim for Expectation Damages? 

The Delaware Supreme Court, in SIGA Technologies Inc. v. PharmAthene, Inc., Case No. D67068 (Del. Dec. 23 2015), recently reconsidered whether a term sheet labeled as “non-binding” could support a party’s damage claims where his counter-party failed to negotiate in good faith. The Court held that it could, and awarded damages of more than $100,000,000 to the aggrieved party.

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Owe Money to the IRS? You Might Lose Your Passport

The IRS has powerful debt collection tools that greatly exceed those available to most nongovernmental creditors. Liens, levies, wage garnishments, and asset seizures become available to the IRS with fewer procedural protections for the debtor than would be present when a general commercial creditor attempts to collect a debt.

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