Failure Timely to Bring Claims Under a Liquidating Agreement is a Breach of Duty of Good Faith and Fair Dealing

Failure Timely to Bring Claims Under a Liquidating Agreement is a Breach of Duty of Good Faith and Fair Dealing

On March 9, 2022, the Second Department issued a decision in Rad & D’Aprile, Inc. v. Arnell Constr. Corp., 2022 NY Slip Op. 01472, holding that the failure timely to bring claims under a liquidating agreement is a breach of the duty of good faith and fair dealing . . . Continue reading Failure Timely to Bring Claims Under a Liquidating Agreement is a Breach of Duty of Good Faith and Fair Dealing

Claim for Imposition of an Equitable Lien Dismissed Because it was not Based on a Promise Relating to the Purchase of a Specific Property

Claim for Imposition of an Equitable Lien Dismissed Because it was not Based on a Promise Relating to the Purchase of a Specific Property

On January 27, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Zwebner v. Strulovitch, 2022 NY Slip Op. 30478(U), dismissing a claim for an equitable lien because it was not based on a promise relating to the purchase of a specific property . . . Continue reading Claim for Imposition of an Equitable Lien Dismissed Because it was not Based on a Promise Relating to the Purchase of a Specific Property

Individuals May Not Define Their Rights vis-a-vis Each Other as a Partnership While Holding Their Business Out to the Public as a Corporation

Individuals May Not Define Their Rights vis-a-vis Each Other as a Partnership While Holding Their Business Out to the Public as a Corporation

On March 1, 2022, Justice Emerson of the Suffolk County Commercial Division issued a decision in Fritch v. Bron, 2022 NY Slip Op. 50165(U), explaining that individuals may not operate their business and define their rights vis-a-vis each other as partners while concurrently holding the business out to the general public as a corporation . . . Continue reading Individuals May Not Define Their Rights vis-a-vis Each Other as a Partnership While Holding Their Business Out to the Public as a Corporation