Contractual Liability Limitation Requiring Gross Negligence Requires Intentional Wrongdoing or Reckless Indifference
Commercial Case Notes / Contracts

Contractual Liability Limitation Requiring Gross Negligence Requires Intentional Wrongdoing or Reckless Indifference

On June 11, 2024, the First Department issued a decision in Brevet Direct Lending Short Duration Fund, L.P. v. Aprio LLP, 2024 NY Slip Op. 03128, holding that a contract term limiting liability to gross negligence requires intentional wrongdoing or reckless indifference to the rights of others . . . Continue reading Contractual Liability Limitation Requiring Gross Negligence Requires Intentional Wrongdoing or Reckless Indifference

Corporate Parent that Negotiated Agreement on Behalf of Subsidiary Can Be Bound by the Agreement
Commercial Case Notes / Contracts

Corporate Parent that Negotiated Agreement on Behalf of Subsidiary Can Be Bound by the Agreement

On May 29, 2024, Justice Masley of the New York County Commercial Division issued a decision in Gramercy Funds Mgt. LLC v. Schlumberger N.V., 2024 NY Slip Op. 31855(U), holding that a complaint had sufficiently alleged that a corporate parent that negotiated an agreement on behalf of a subsidiary was bound by the agreement . . . Continue reading Corporate Parent that Negotiated Agreement on Behalf of Subsidiary Can Be Bound by the Agreement

Where There is a Question Over the Existence of a Contract, Plaintiff Can Assert Both Unjust Enrichment and Contract Claims
Commercial Case Notes / Contracts / Quantum Meruit/Unjust Enrichment

Where There is a Question Over the Existence of a Contract, Plaintiff Can Assert Both Unjust Enrichment and Contract Claims

On May 30, 2024, the First Department issued a decision in 110 NC LLC v. Bank of Am., N.A., 2024 NY Slip Op. 02974, holding that when there is a question regarding the existence of a contract, a plaintiff can assert both unjust enrichment and breach of contract claims . . . Continue reading Where There is a Question Over the Existence of a Contract, Plaintiff Can Assert Both Unjust Enrichment and Contract Claims

Party That Sent Signature Pages to His Lawyer for Inclusion in a Contract Without Reading the Final Version Bound by the Version to Which Lawyer Affixed Signature Pages
Commercial Case Notes / Contracts

Party That Sent Signature Pages to His Lawyer for Inclusion in a Contract Without Reading the Final Version Bound by the Version to Which Lawyer Affixed Signature Pages

On May 2, 2024, the First Department issued a decision in Wilmington Trust N.A. v. Nelson, 2024 NY Slip Op. 02388, holding that a party that sent signature pages to his lawyer for inclusion in a contract without reading the final version of the contract is bound by the final version to which the lawyer affixed the signature pages . . . Continue reading Party That Sent Signature Pages to His Lawyer for Inclusion in a Contract Without Reading the Final Version Bound by the Version to Which Lawyer Affixed Signature Pages