On October 31, 2024, the First Department issued a decision in OH 126th St. Hous. Dev. Fund Corp. v. Berkley Ins. Co., 2024 NY Slip Op. 05410, holding that a consequential damages waiver in a contract did not extend to a related surety bond . . . Continue reading Consequential Damages Waiver in Contract Does Not Apply to Related Surety Bond
On October 24, 2024, the First Department issued a decision in Noyack Med. Partners LLC v. OSK IX, LLC, 2024 NY Slip Op. 05286, holding that a party waived its claim based on the failure timely to close a transaction by continuing to negotiate the transaction . . . Continue reading Party Waived Claim Based on Failing Timely to Close By Continuing to Negotiate
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
On October 4, 2024, the Fourth Department issued a decision in Liberty Maintenance, Inc. v. Alliant Ins. Servs., Inc., 2024 NY Slip op. 04871, holding that written contract’s integration clause barred a promissory estoppel claim based on an alleged oral modification of the written contract . . . Continue reading Promissory Estoppel Claim Barred by Written Contract
On October 2, 2024, the Second Department issued a decision in Parizat v. Meron, 2024 NY Slip Op. 04776, holding that an oral agreement regarding a party’s ownership interest in a company was not barred by the party’s written employment agreement . . . Continue reading Oral Agreement Regarding Ownership Interest Not Barred by Written Employment Agreement
On October 1, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Junik v. 61 N. 11 LLC, 2022 NY Slip Op. 34793(U), holding that a Heter Iska created an enforceable note . . . Continue reading Heter Iska is an Enforceable Note
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
On September 11, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Tareb v. 65th St., LLC, 2024 NY Slip Op. 33214(U), holding that a merger clause barred a claim based on an alleged oral agreement . . . Continue reading Merger Clause Bars Claim Based on Alleged Oral Agreement
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
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
