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No Warranty Without Express Language

Client Alert | less than 1 min read | 02.24.10

Addressing the issue of warranties again within a week and once again reversing the Court of Federal Claims, the Federal Circuit in Precision Pine & Timber, Inc. v. U.S. (Feb. 19, 2010) found no warranty implicit in a contractual clause that allowed the Forest Service to suspend performance due to Endangered Species Act concerns. With respect to the one contract that lacked a suspension of work clause, however, the Forest Service breached because it lacked contractual authority to do so, even though it stopped performance in response to a district court injunction.

Insights

Client Alert | 6 min read | 03.18.26

CFTC Takes Additional Steps Toward Prediction Market Regulation: What You Need to Know

On March 12, 2026, the U.S. Commodity Futures Trading Commission (CFTC) took formal steps toward establishing additional regulations for prediction markets. The agency issued an Advanced Notice of Proposed Rulemaking (ANPRM) soliciting public input on potential new rules, and separately, released staff guidance outlining its views on how existing rules apply to prediction market platforms currently in operation. These developments signal a significant shift in the regulatory landscape for an industry that has grown rapidly over the past year....