On April 14, 2022, the First Department issued a decision in Jeremias v. Toms Capital LLC, 2022 NY Slip Op. 02495, reinstating a claim for breach of the covenant of good faith and fair dealing because of a question of fact regarding the terms to which the parties agreed . . . Continue reading Covenant of Good Faith Claim Reinstated Because of Question Over Contract’s Terms
On April 7, 2022, the First Department issued a decision in International Business Machs. Corp. v. GlobalFoundries U.S. Inc., 2022 NY Slip Op. 02341, holding that fraudulent inducement and breach of contract claims were not duplicative . . . Continue reading Fraudulent Inducement and Breach of Contract Claims Not Duplicative
On March 22, 2022, Justice Emerson of the Suffolk County Commercial Division issued a decision in JP Pizza Eastport LLC v Luigi’s Main St. Pizza Inc., 2022 NY Slip Op. 22088, holding that a party making a best knowledge warranty was not required to investigate the facts relating to the warranty . . . Continue reading Party Making Best Knowledge Warranty Not Required to Conduct Due Diligence
On March 15, 2022, the First Department issued a decision in Picken v. RN Realty LLC, 2022 NY Slip Op. 01749, holding that a seller may owe a commission to a broker if seller interfered with transaction when it was plainly and evidently approaching success . . . Continue reading Seller May Owe Commission to Broker if Seller Interfered with Transaction to Avoid Paying a Commission
On March 15, 2022, the First Department issued a decision in Future Star Hospitality Advisors, LLC v. LaFrieda Veal & Lamb Co., Inc., 2022 NY Slip Op. 01735, holding that a plaintiff cannot use quasi-contract claims to avoid the effect of the statute of frauds . . . Continue reading Plaintiff Cannot Use Quasi Contract Claims to Avoid Effect of Statute of Frauds
On March 9, 2022, the Second Department issued a decision in Rad & D’Aprile, Inc. v. Arnell Constr. Corp., 2022 NY Slip Op. 01472, holding that the failure timely to bring claims under a liquidating agreement is a breach of the duty of good faith and fair dealing . . . Continue reading Failure Timely to Bring Claims Under a Liquidating Agreement is a Breach of Duty of Good Faith and Fair Dealing
On March 17, 2022, the Court of Appeals issued a decision in U.S. Bank Natl. Assn. v. DLJ Mtge. Capital, Inc., 2022 NY Slip Op. 01866, holding that an RMBS trustee cannot rely on the relation back doctrine to avoid a pooling and servicing agreement’s pre-suit demand requirement. Continue reading RMBS Trustee Cannot Avoid Pre-Suit Put-Back Demand Requirement
On March 8, 2022, the First Department issued a decision in Valentino U.S.A., Inc. v. 693 Fifth Owner LLC, 2022 NY Slip Op. 01431, rejecting pandemic-based defenses to complying with a lease . . . Continue reading Court Rejects Pandemic-Based Defenses to Complying with Lease
On March 3, 2022, the First Department issued a decision in Bank of Am., N.A. v. ASD Gem Realty LLC, 2022 NY Slip Op. 01379, holding that an agent for an undisclosed principal was liable under a contract . . . Continue reading Agent for Undisclosed Principal Liable Under Contract
On January 31, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in SMG Auto. Holdings LLC v. Kings Auto. Holdings, LLC, 2022 NY Slip Op. 30389(U), holding that misnaming a guarantor does not make a guaranty unenforceable . . . Continue reading Misnaming Guarantor Does Not Make Guaranty Unenforceable
