Quasi-Contract Claims Regarding a Loan Could Not be Asserted Regarding a Note Securing the Loan
Commercial Case Notes / Contracts / Quantum Meruit/Unjust Enrichment

Quasi-Contract Claims Regarding a Loan Could Not be Asserted Regarding a Note Securing the Loan

On October 17, 2024, the First Department issued a decision in A.N.L.Y.H. Invs. LP v. JDS Principal Highline LLC, 2024 NY Slip Op. 05133, holding that when a loan was secured by a promissory note, a plaintiff could not assert quasi-contractual claims regarding the loan, even against a party that did not sign the note . . . Continue reading Quasi-Contract Claims Regarding a Loan Could Not be Asserted Regarding a Note Securing the Loan

Settlement Agreement Was an Executory Accord, Allowing Plaintiff to Assert Settled Claims if Defendant Failed to Perform
Commercial Case Notes / Contracts

Settlement Agreement Was an Executory Accord, Allowing Plaintiff to Assert Settled Claims if Defendant Failed to Perform

On September 26, 2024, Justice Chan of the New York County Commercial Division issued a decision in GSP Merrimack LLC v. Javelin Global Commodities (UK) Ltd., 2024 NY Slip Op. 33460(U), holding that a settlement agreement was an executory accord, allowing the plaintiff to assert the settled claims if defendant failed to perform as agreed under the settlement . . . Continue reading Settlement Agreement Was an Executory Accord, Allowing Plaintiff to Assert Settled Claims if Defendant Failed to Perform

Statute of Frauds Bars Claim Based on Alleged Guaranty When the Guaranty Was Not Signed by the Defendant
Commercial Case Notes / Contracts

Statute of Frauds Bars Claim Based on Alleged Guaranty When the Guaranty Was Not Signed by the Defendant

On September 18, 2024, the Second Department issued a decision in Schwartz v. Fallah, 2024 NY Slip Op. 04474, holding that the Statute of Frauds barred a claim based on an alleged guaranty when the guaranty was not signed by the defendant . . . Continue reading Statute of Frauds Bars Claim Based on Alleged Guaranty When the Guaranty Was Not Signed by the Defendant

Corporation Cannot Avoid Being Bound by Contract Because it Lacked its Full, Proper Corporate Name
Commercial Case Notes / Contracts

Corporation Cannot Avoid Being Bound by Contract Because it Lacked its Full, Proper Corporate Name

On September 3, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Putney Inv. Group Ltd. V. New Hampshire Ins. Co., 2024 NY Slip Op 33083(U), holding that a corporation cannot avoid being bound by a contract because it did not use its full, proper corporate name . . . Continue reading Corporation Cannot Avoid Being Bound by Contract Because it Lacked its Full, Proper Corporate Name

Good Faith and Fair Dealing Claim Fails for Lack of Enforceable Contract
Commercial Case Notes / Contracts

Good Faith and Fair Dealing Claim Fails for Lack of Enforceable Contract

On August 28, 2024, Justice Chan of the New York County Commercial Division issued a decision in Imperium Blue Acquisition Partners, LLC v. Marathon Asset Mgt., L.P., 2024 NY Slip Op. 33042(U), holding that a claim based on the implied covenant of good faith and fair dealing failed for lack of an enforceable contract . . . Continue reading Good Faith and Fair Dealing Claim Fails for Lack of Enforceable Contract