Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity
Commercial Case Notes / Contracts / Real Property

Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity

On November 21, 2023, Justice Cohen of the New York County Commercial Division issued a decision in Bissell St. I, LLC v. Westbrook Partners LLC, 2023 NY Slip Op. 34293(U), holding that the statute of frauds does not over an oral agreement to assess a potential business opportunity . . . Continue reading Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity

Location of Accrual of Assigned Claims for Borrowing Statute Purposes is Location of Assignor
Commercial Case Notes / Statute of Limitation/Laches

Location of Accrual of Assigned Claims for Borrowing Statute Purposes is Location of Assignor

On December 12, 2023, the First Department issued a decision in IKB Intl., S.A. v. Wells Fargo Bank, N.A., 2023 NY Slip Op. 06333, holding that the location of the accrual of assigned claims for borrowing statute purposes was the location of the assignor . . . Continue reading Location of Accrual of Assigned Claims for Borrowing Statute Purposes is Location of Assignor

Claim for Breach of Covenant of God Faith and Fair Dealing Not Duplicative of Contract Claim
Commercial Case Notes / Contracts

Claim for Breach of Covenant of God Faith and Fair Dealing Not Duplicative of Contract Claim

On December 14, 2023, the First Department issued a decision in Botbol v. Frosch Intl. Travel Inc., 2023 NY Slip Op. 06433, holding that a claim for breach of the covenant of good faith and fair dealing based on the bad faith exercise of a contract right was not duplicative of a breach of contract claim . . . Continue reading Claim for Breach of Covenant of God Faith and Fair Dealing Not Duplicative of Contract Claim

Court Rejects Claim that Plaintiff Was Fraudulently Induced to Enter Into a Settlement Agreement
Commercial Case Notes / Fraud/Misrepresentation

Court Rejects Claim that Plaintiff Was Fraudulently Induced to Enter Into a Settlement Agreement

On December 14, 2023, the First Department issued a decision in Columbia Consultants, LLC v. Danucht Entertainment, LLC, 2023 NY Slip Op. 06439, rejecting a claim that a plaintiff was fraudulently induced to enter into a settlement agreement . . . Continue reading Court Rejects Claim that Plaintiff Was Fraudulently Induced to Enter Into a Settlement Agreement

Court Declines to Require Undertaking on Yellowstone Injunction
Commercial Case Notes / Injunctions, Attachments and Other Preliminary Remedies / Real Property

Court Declines to Require Undertaking on Yellowstone Injunction

On November 30, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in L.I. Champions Taekwondo Inc. v. 151 Montague Opportunity LLC, 2023 NY Slip Op. 34218(U), declining to require an undertaking when issuing a Yellowstone injunction . . . Continue reading Court Declines to Require Undertaking on Yellowstone Injunction

Legal Malpractice Claim Dismissed for Failure Adequately to Allege Proximate Cause
Commercial Case Notes / Professional Malpractice

Legal Malpractice Claim Dismissed for Failure Adequately to Allege Proximate Cause

On December 6, 2023, the Second Department issued a decision in May Dock Lane, LLC v. Harras Bloom & Archer, LLP, 2023 NY Slip Op. 06244, holding that a legal malpractice claim should have been dismissed for failure to, among other things, adequately allege proximate cause . . . Continue reading Legal Malpractice Claim Dismissed for Failure Adequately to Allege Proximate Cause