|
|
Article: Is a merger an assignment?(insurance company vs fire alarm company.)
- Article from:
- Security Distributing & Marketing
- Article date:
- February 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
An interesting case was recently decided by the United States District Court for the Northern District of Ohio. Among others, the issues involved were whether a merger of two companies constituted an assignment of the plaintiff's contract by the fire alarm company and the effect of a limitation of liability clause.
[ILLUSTRATION OMITTED]
The plaintiff, an insurance company, brought the action against the fire alarm company to recover monies paid to its insured for damages sustained when a water pipe constituting part of a fire suppression system cracked, causing water damage to the premises. The defendant, the fire alarm company, contracted with the ...