On November 22, 2022, the Court of Appeals issued a decision in Worthy Lending LLC v. New Style Contrs., Inc., 2022 NY Slip Op. 06631, holding that a secured party has the same rights as an assignee under UCC § 9-406 . . . Continue reading Secured Party Has Same Rights as Assignee Under UCC § 9-406
On November 17, 2022, the First Department issued a decision in Black Diamond Capital Mgt., LLC v. Oppenheimer Master Loan Fund, LLC, 2022 NY Slip Op. 06544, holding that an exchange between traders was insufficient to create a binding agreement to sell . . . Continue reading Exchange Between Traders Insufficient to Create Binding Agreement to Sell
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
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
On September 29, 2022, the First Department issued a decision in Ramirez v. Moab Capital Partners, LLC, 2022 NY Slip Op. 05383, holding that an employee’s acceptance of a lesser bonus did not waive a claim for failure to pay the full bonus . . . Continue reading Employee’s Acceptance of a Lesser Bonus Did Not Waive Claim for Failure to Pay Full Bonus
On September 7, 2022, Justice Ostrager of the New York County Commercial Division issued a decision in Series PC of HCI-Cerberus PCNY Owner LP v. Diamond Resorts Intl. Mktg., Inc., 2022 NY Slip Op. 32998(U), dismissing a litany of defenses to contract performance based on the pandemic . . . Continue reading Court Dismisses Litany of Defenses to Contract Performance Based on the Pandemic
On August 25, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Alsaidi v. Alsaede, 2022 NY Slip Op. 32927(U), dismissing a counterclaim for additional consideration due under an agreement based on the agreement’s merger clause . . . Continue reading Counterclaim for Additional Consideration Barred by Merger Clause
On August 31, 2022, the Second Department issued a decision in 255 Butler Assoc., LLC v. 255 Butler, LLC, 2022 NY Slip Op. 05068, holding that when a contract did not specify a particular time for performance, the defendant had a reasonable time in which to perform . . . Continue reading Where Contract Did Not Specify Time for Performance, Defendant Had a Reasonable Time to Perform
On August 4, 2022, the Fourth Department issued a decision in Koike Aronson, Inc. v. Bearing Distribs., Inc., 2022 NY Slip Op. 04834, holding that an order confirmation form is not a counteroffer that, if accepted by performance, incorporates the form’s terms into the parties’ agreement . . . Continue reading Order Confirmation Form is not a Counteroffer That if Accepted by Performance Incorporates the Form’s Terms into the Parties’ Agreement
On June 10, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Noor Staffing Group, LLC v. Christoforou-Gioules, 2022 NY Slip Op. 31853(U), holding that a contractual duty to negotiate is not breached by a failure to agree after good faith negotiations . . . Continue reading Contractual Duty to Negotiate an Agreement is not Breached by the Mere Failure to Agree
