Ever sign a contract where the penalty provisions for being a little bit late seemed somewhat high? Compared to the amount owed, perhaps even excessive? For instance, in a commercial lease where you pay $2,000 a month for rent, can your landlord charge you a $100 for paying a day late? How about a $1,000? What about a million bucks?! Crazy, right?  But is it legal?

Disclaimer: The following information does NOT constitute legal advice and is only...

I am thrilled to announce that today, I was elected to Chair the Corporate Counsel Section ("CCS") of the New York State Bar Association ("NYSBA").* In my term, I look forward to focusing on encouraging more internal communication, providing added value to rank and file members, increasing the sociability of the Section, and assisting efforts for greater accountability and transparency.  I have been a member of the Executive Committee of the CCS...