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