Category: Contracts

On September 5, 2024, the First Department issued a decision in Ria R Squared, Inc. v. DW Partners, LP, 2024 NY Slip Op. 04363, upholding a claim for the breach of the covenant of good faith and fair dealing based on an SPV’s failure to remain sufficiently capitalized to repay a loan . . . Continue reading Court Upholds Implied Covenant Claim Based on SPV’s Failure to Remain Sufficiently Capitalized to Pay Loan

On August 14, 2024, the Second Department issued a decision in Hopwood v. Infinity Contr. Servs. Corp., 2024 NY Slip Op. 04197, holding that a series of e-mails was insufficient to save a contract claim from dismissal under the statute of frauds . . . Continue reading Series of E-mails Insufficient to Save Contract Claim from Dismissal Under the Statute of Frauds

On August 15, 2024, the First Department issued a decision in DirecTV, LLC v. Nexstar Broadcasting, Inc., 2024 NY Slip Op. 04225, examining the narrow limits of an implied covenant claim . . . Continue reading First Department Examines Narrow Limits of Implied Covenant Claim

On July 29, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Brighthill Capital, LLC v. Abrams, 2024 NY Slip Op. 32639(U), dismissing a claim for breach of the covenant of good faith and fair dealing as duplicative of a breach of contract claim . . . Continue reading Claim for Breach of Covenant of Good Faith and Fair Dealing Dismissed As Duplicative of Breach of Contract Claim

On July 12, 2024, Justice Chan of the New York County Commercial Division issued a decision in Invesco Group Servs., Inc. v. AST Fund Solutions, LLC, 2024 NY Slip Op. 32523(U), holding that a party was estopped for making a claim for more than the amount owed on a final invoice . . . Continue reading Party Estopped From Suing for More than Amount Charged on Final Invoice

On June 18, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Mind Ctrs. II, LLC v. Barr, 2024 NY Slip Op. 32111(U), upholding a recission claim because of alleged fraudulent inducement . . . Continue reading Rescission Claim Upheld Because of Fraudulent Inducement

On June 18, 2024, the First Department issued a decision in EXRP 14 Holdings LLC v. LS-14 Ave LLC, 2024 NY Slip Op. 03325, holding that a contract’s merger clause barred a claim based on an alleged oral agreement . . . Continue reading Contract’s Merger Clause Barred Claim Based on Alleged Oral Agreement

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

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