Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract

Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract

On October 19, 2022, the Second Department issued a decision in Transcan Sys., Inc. v. Seldat Distrib., Inc., 2022 NY Slip Op. 05881, holding that a plaintiff can assert both contract and fraud claims when the fraud claim is based on misrepresentations that are collateral to the contract . . . Continue reading Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract

Presence of Reconciliation Provision Key Finding that Agreement Was Not an Usurious Loan

Presence of Reconciliation Provision Key Finding that Agreement Was Not an Usurious Loan

On September 23, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in West Coast Bus. Capital LLC v. NP Skyloft IB LLC, 2022 NY Slip Op. 33493(U), holding that the presence of a reconciliation provision was key to the finding that a cash advance agreement was not an usurious loan . . . Continue reading Presence of Reconciliation Provision Key Finding that Agreement Was Not an Usurious Loan

Court of Appeals Confirms High Standard for the Award of Fees Based on Indemnification Clause

Court of Appeals Confirms High Standard for the Award of Fees Based on Indemnification Clause

On October 20, 2022, the Court of Appeals issued a decision in Sage Sys., Inc. v. Liss, 2022 NY Slip Op. 05918, denying an award of fees in a partnership dispute based on the high standard for finding that a contractual indemnification provision allows the prevailing party to recover fees in a suit between the parties . . . Continue reading Court of Appeals Confirms High Standard for the Award of Fees Based on Indemnification Clause