On August 1, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Fine Creative Media, Inc. v. Barnes & Noble, Inc., 2024 NY Slip Op. 32708(U), holding that joint venture allegations failed for lack of an agreement to share losses . . . Continue reading Joint Venture Allegations Fail for Lack of Allegations of an Agreement to Share Losses
On July 9, 2024, Justice Chan of the New York County Commercial Division issued a decision in Jefferies Leveraged Credit Prods., LLC v. Invictus Global Mgt., LLC, 2024 NY Slip Op. 32620(U), holding that a general partner can be sued based on the general partnership’s contracts . . . Continue reading General Partner Can Be Sued Based on the General Partnership’s Contracts
On April 10, 2024, the Second Department issued a decision in Kefalas v. Pappas, 2024 NY Slip Op. 01912, holding that a claim based on an alleged joint venture agreement failed for lack of allegations of an agreement to share losses . . . Continue reading Claim Based on Alleged Joint Venture Agreement Fails for Lack of Allegations of Agreement to Share Losses
On February 2, 2024, the Fourth Department issued a decision in Capizzi v. Brown Chiari LLP, 2024 NY Slip Op. 00535, holding that an oral partnership agreement trumps the default rules of the Partnership Law . . . Continue reading Oral Agreement Can Trump Partnership Law
On January 2, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Fine Creative Media, Inc. v. Barnes & Noble, Inc., 2024 NY Slip Op. 30050(U), dismissing a claim based on an alleged joint venture for lack of allegations regarding sharing profits and losses . . . Continue reading Claim Based on Alleged Joint Venture Fails for Lack of Allegations Regarding Sharing Profits and Losses
On October 5, 2023, Justice Crane of the New York County Commercial Division issued a decision in Brabury v. Israel, 2023 NY Slip Op. 33551(U), holding that joint venture allegations survived a motion to dismiss despite questions regarding the terms of the joint venture agreement . . . Continue reading Joint Venture Allegations Survive Motion to Dismiss Despite Questions Regarding Terms Governing the Joint Venture
On July 12, 2023, Justice Reed of the New York County Commercial Division issued a decision in Kiehl v. Cavicchio, 2023 NY Slip Op. 50706(U), dismissing claims based on an alleged oral partnership agreement for lack of allegations of an agreement to share losses . . . Continue reading Claims Based on Existence of Oral Partnership Agreement Dismissed for Lack of Allegations of an Agreement to Share Losses
On December 1, 2022, the First Department issued a decision in Velez v. Mitchell, 2022 NY Slip Op. 06877, dismissing claims based on an alleged oral partnership agreement for lack of non-conclusory allegations of an agreement to share losses . . . Continue reading Claims Based on Alleged Oral Partnership Agreement Dismissed for Lack of Non-Conclusory Allegations of an Agreement to Share Losses
On March 1, 2022, Justice Emerson of the Suffolk County Commercial Division issued a decision in Fritch v. Bron, 2022 NY Slip Op. 50165(U), explaining that individuals may not operate their business and define their rights vis-a-vis each other as partners while concurrently holding the business out to the general public as a corporation . . . Continue reading Individuals May Not Define Their Rights vis-a-vis Each Other as a Partnership While Holding Their Business Out to the Public as a Corporation
On January 12, 2022, the Second Department issued a decision in Abruzzi v. Bond Realty, Inc., 2022 NY Slip Op. 00156, holding that on a partner’s death, ownership of partnership property passed to the surviving partners, not the deceased partner’s estate . . . Continue reading Ownership of Partnership Property Passes to Remaining Partners When a Partner Dies
