A recent Delaware Court of Chancery ruling suggests drafters of LLC operating agreements may want to consider establishing a process by which managers of LLCs can be deemed to act in good faith and avoid application of the implied duty of good faith.

To what extent can Iowa parents be liable for damages caused by their children? Generally, under common law, parents are not responsible unless the damages can be directly attributable to some action or inaction of the parent. Under the Iowa Parental Responsibility Act, though, parents may be liable for their children’s unlawful acts no matter how closely they are supervised or controlled.

On March 14 the Iowa Civil Justice Task Force released recommendations for reforming the state’s civil justice system, including a recommendation to establish specialized “business courts.” Before Iowa can launch a business court system, however, two important issues must be addressed.

In Oyens Feed & Supply Co. v. Primebank, the Iowa Supreme Court dealt a blow to financial institutions’ ability to secure first priority for livestock under Article 9.

The Iowa Court of Appeals recently reversed an Iowa District Court ruling and upheld a seven-year, 350-mile radius covenant not to compete. The main issue on appeal was the standard under which a non-compete between owners differs from a non-compete between an employer and an employee.