Fraud Claim Relating to a Contract or Note May be Assigned, But Assignment Agreement Must Show Intent to Transfer
Commercial Case Notes / Contracts / Fraud/Misrepresentation / Standing

Fraud Claim Relating to a Contract or Note May be Assigned, But Assignment Agreement Must Show Intent to Transfer

On May 25, 2023, the First Department issued a decision in SureFire Dividend Capture, LP v. Industrial & Commercial Bank of China Fin. Servs. LLC, 2023 NY Slip Op. 02841, holding that a fraud claim relating to a contract or note can be assigned, but that the agreement transferring the claim must show an intent to transfer the claim . . . Continue reading Fraud Claim Relating to a Contract or Note May be Assigned, But Assignment Agreement Must Show Intent to Transfer

Fraudulent Inducement Claim Based on Omission Fails for Lack of Duty to Plaintiff
Commercial Case Notes / Fraud/Misrepresentation

Fraudulent Inducement Claim Based on Omission Fails for Lack of Duty to Plaintiff

On January 19, 2023, the First Department issued a decision in HOV Servs., Inc. v. ASG Tech. Group, Inc., 2023 NY Slip Op. 00237, holding that a plaintiff could not assert a fraudulent inducement claim based on an omission when the defendant had no duty to the plaintiff . . . Continue reading Fraudulent Inducement Claim Based on Omission Fails for Lack of Duty to Plaintiff

Negligent Misrepresentation Claim Fails When Alleged Special Relationship Arises as Part of Transaction in Which Misrepresentation Was Made
Commercial Case Notes / Fraud/Misrepresentation

Negligent Misrepresentation Claim Fails When Alleged Special Relationship Arises as Part of Transaction in Which Misrepresentation Was Made

On December 8, 2022, the First Department issued a decision in 100 & 130 Biscayne, LLC v. EE NWT OM, LLC, 2022 NY Slip Op. 06985, holding that the special relationship upon which a negligent misrepresentation claim is based must exist before the alleged misrepresentation is made . . . Continue reading Negligent Misrepresentation Claim Fails When Alleged Special Relationship Arises as Part of Transaction in Which Misrepresentation Was Made

Negligent Misrepresentation Claim Fails for Lack of Special Relationship
Commercial Case Notes / Fraud/Misrepresentation

Negligent Misrepresentation Claim Fails for Lack of Special Relationship

On October 17, 2022, Justice Cohen of the New York County Commercial Division issued a decision in G-Z/10 UNP Realty, LLC v. SLCE Architects, LLP, 2022 NY Slip Op. 33538(U), dismissing a negligent misrepresentation claim for failure to allege a special relationship between the parties . . . Continue reading Negligent Misrepresentation Claim Fails for Lack of Special Relationship

Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract
Commercial Case Notes / Fraud/Misrepresentation

Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract

On October 19, 2022, the Second Department issued a decision in Transcan Sys., Inc. v. Seldat Distrib., Inc., 2022 NY Slip Op. 05881, holding that a plaintiff can assert both contract and fraud claims when the fraud claim is based on misrepresentations that are collateral to the contract . . . Continue reading Plaintiff Can Assert Both Contract and Fraud Claims When Fraud Claim is Based on Misrepresentations Collateral to the Contract