Court Recognizes Existence of Claim for Tortious Interference With the Implied Covenant of Good Faith and Fair Dealing
Commercial Case Notes / Contracts

Court Recognizes Existence of Claim for Tortious Interference With the Implied Covenant of Good Faith and Fair Dealing

On December 15, 2022, Justice Cohen of the New York County Commercial Division issued a decision in 111 W. 57th Inv. LLC v. 111 W57 Mezz Inv. LLC, 2022 NY Slip Op 34258(U), recognizing the existence of (although dismissing) a claim for tortious interference with the covenant of good faith and fair dealing . . . Continue reading Court Recognizes Existence of Claim for Tortious Interference With the Implied Covenant of Good Faith and Fair Dealing

Party Cannot Rely on the Failure of a Condition Precedent When the Party Caused That Failure
ABS Update / Commercial Case Notes / Contracts

Party Cannot Rely on the Failure of a Condition Precedent When the Party Caused That Failure

On December 15, 2022, the First Department issued a decision in FPG Maiden Lane, LLC v. Bank Leumi USA, 2022 NY Slip Op. 07150, holding that a party may not rely on the failure of a condition precedent to occur when it was responsible for that failure . . . Continue reading Party Cannot Rely on the Failure of a Condition Precedent When the Party Caused That Failure

Absence of a Commencement Date Did Not Make a Lease an Unenforceable Agreement to Agree
Commercial Case Notes / Contracts

Absence of a Commencement Date Did Not Make a Lease an Unenforceable Agreement to Agree

On December 8, 2022, Justice Boddie of the Kings County Commercial Division issued a decision in 17 Lexington Ave. LLC v. Alison Six Star LLC, 2022 NY Slip Op. 51194(U), holding that the absence of a commencement date did not make a lease an unenforceable agreement to agree . . . Continue reading Absence of a Commencement Date Did Not Make a Lease an Unenforceable Agreement to Agree

Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender
Commercial Case Notes / Contracts / Summary Judgment

Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender

On October 25, 2022, the First Department issued a decision in Arena Invs., L.P. v. D’Angelo, 2022 NY Slip Op. 05945, holding that a guaranty made to two lenders was ambiguous regarding whether it could be enforced by only one of the lenders . . . Continue reading Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender

Breach of Contract Action Duplicative of Malpractice Action
Commercial Case Notes / Contracts / Professional Malpractice / Statute of Limitation/Laches

Breach of Contract Action Duplicative of Malpractice Action

On September 6, 2022, Justice Knipel of the Kings County Commercial Division issued a decision in Trump Vil. Section 4, Inc. v. Lawless & Mangione Architects Engrs. LLP, 2022 NY Slip Op. 33159(U), holding that a breach of contract action was duplicative to a time-barred malpractice action . . . Continue reading Breach of Contract Action Duplicative of Malpractice Action