Category: Statute of Limitation/Laches

On March 2, 2023, the First Department issued a decision in Freedom Trust 2011-2 v. HSBC Bank USA, N.A., 2023 NY Slip Op. 01135, holding that tolling agreements can collectively be made for longer than the statute of limitations period so long as each individual agreement does not exceed the limitations period . . . Continue reading Tolling Agreements Can Collectively Be Made for Longer Than the Limitations Period So Long As Each Individual Agreement Does Not Exceed That Period

On February 14, 2023, the First Department issued a decision in Lazar v. Mor, 2023 NY Slip Op. 00814, holding that a fraud claim was untimely under the two-year discovery rule . . . Continue reading Fraud Claim Untimely Under Two-Tear Discovery Rule

On February 2, 2023, the First Department issued a decision in Andes Petroleum Ecuador Ltd. v. Occidental Petroleum Co., 2023 NY Slip Op. 00481, holding that under New York’s borrowing statute, if the foreign jurisdiction does not have the same claim as New York, the court must use the foreign cause of action most closely analogous to the New York cause of action . . . Continue reading Under Borrowing Statute, if Foreign Jurisdiction Does Not Have Same Claim as New York, Court Must Use Cause of Action Most Analogous to New York Cause of Action

On December 9, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Nelson Bros. W. Seneca, LLC v. Kaplan, 2022 NY Slip Op. 34240(U), holding that a pre-breach agreement to waive the statute of limitations is unenforceable . . . Continue reading Pre-Breach Agreement to Waive Statute of Limitations Unenforceable

On December 22, 2022, the First Department issued a decision in Continental Indus. Group, Inc. v. Ustuntas, 2022 NY Slip Op. 07294, holding that a theft of trade secrets claim accrues when a plaintiff is damaged, not when the theft occurs . . . Continue reading Statute of Limitations for Theft of Trade Secrets Accrues When Plaintiff is Damaged, Not When Theft Occurs

On November 17, 2022, the Court of Appeals issued a decision in Federal Natl. Mtge. Assn. v. Jeanty, 2022 NY Slip Op. 06539, holding that making mortgage payments is an acknowledgement of a debt that restarts the running of the statute of limitations . . . Continue reading Making Mortgage Payments is an Acknowledgement of a Debt That Restarts the Running of the Statute of Limitations

On October 18, 2022, the First Department issued a decision in U.S. Bank N.A. v. DLJ Mtge. Capital, Inc., 2022 NY Slip Op. 05819, holding that CPLR 205(a) relation back does not apply to claims that were voluntarily dismissed . . . Continue reading CPLR 205(a) Relation Back Does Not Apply to Claims That Were Voluntarily Dismissed