Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default
Commercial Case Notes / Real Property

Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default

On July 10, 2024, Justice Masley of the New York County Commercial Division issued a decision in Wilmington Trust, N.A. v. Elmwood NYT Owner, LLC, 2024 NY Slip Op. 32816(U), denying a Yellowstone injunction because of the tenant’s inability to show that it could cure a rent payment default . . . Continue reading Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default

Written Contract for Sale or Real Estate Fails to Satisfy Statute of Frauds Because it Lacked Material Non-Price Terms
Commercial Case Notes / Contracts / Real Property

Written Contract for Sale or Real Estate Fails to Satisfy Statute of Frauds Because it Lacked Material Non-Price Terms

On August 7, 2024, the Second Department issued a decision in South Shore Estates, Inc. v. Guy Friedman Realty Corp., 2024 NY Slip Op. 04156, holding that a written contract for the sale of real estate nonetheless failed to satisfy the statute of frauds because it lacked material non-price terms . . . Continue reading Written Contract for Sale or Real Estate Fails to Satisfy Statute of Frauds Because it Lacked Material Non-Price Terms

Buyer Who Had No Reason to Think Deed Was Not Valid Was Good Faith Purchaser
Commercial Case Notes / Real Property

Buyer Who Had No Reason to Think Deed Was Not Valid Was Good Faith Purchaser

On July 25, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Pfanner v. Anderson, 2024 NY Slip Op. 32576(U), holding that a buyer who had no reason to think a deed was not valid was a good faith purchaser and was entitled to possession of the property . . . Continue reading Buyer Who Had No Reason to Think Deed Was Not Valid Was Good Faith Purchaser

Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity
Commercial Case Notes / Contracts / Real Property

Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity

On November 21, 2023, Justice Cohen of the New York County Commercial Division issued a decision in Bissell St. I, LLC v. Westbrook Partners LLC, 2023 NY Slip Op. 34293(U), holding that the statute of frauds does not over an oral agreement to assess a potential business opportunity . . . Continue reading Statute of Frauds Does Not Cover Alleged Oral Agreement to Assess a Potential Business Opportunity

Court Declines to Require Undertaking on Yellowstone Injunction
Commercial Case Notes / Injunctions, Attachments and Other Preliminary Remedies / Real Property

Court Declines to Require Undertaking on Yellowstone Injunction

On November 30, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in L.I. Champions Taekwondo Inc. v. 151 Montague Opportunity LLC, 2023 NY Slip Op. 34218(U), declining to require an undertaking when issuing a Yellowstone injunction . . . Continue reading Court Declines to Require Undertaking on Yellowstone Injunction