In Finkelstein v. U.S. Bank, N.A., 2025 N.Y. Slip Op 32882(U) (Sup. Ct., July 30, 2025) (here), plaintiff alleged that he was underpaid on his investment in a residential mortgage-backed securities (“RMBS”) trust due to the...more
8/26/2025
/ Breach of Contract ,
Conflicts of Interest ,
Contract Terms ,
Demand Futility ,
Financial Institutions ,
Investors ,
Mortgage Servicers ,
Mortgage-Backed Securities ,
Motion to Dismiss ,
No-Action Clauses ,
Trusts
In Southgate Owners Corp. v. Esposito, 2025 N.Y. Slip Op. 32750(U) (Sup. Ct., N.Y. County July 24, 2025) (here), plaintiff sued defendant, a shareholder in its cooperative building, seeking a declaratory judgment that 80...more
We have written frequently about the substance and scope of general releases. In New York, “a valid release constitutes a complete bar to an action on a claim which is the subject of the release.” If “the language of a...more
Under New York law, written agreements are construed in accordance with the parties’ intent. “The best evidence of what parties to a written agreement intend is what they say in their writing.” As such, “a written agreement...more
1/14/2025
/ Appeals ,
Assignments ,
Breach of Contract ,
Contract Interpretation ,
Contract Modification ,
Contract Terms ,
Evidence ,
Litigation Strategies ,
New York ,
Statutory Interpretation ,
Written Agreements
In Valkyrie AI LLC v. PriceWaterhouseCoopers LLP, 2024 N.Y. Slip Op. 06141 (1st Dept. Dec. 5, 2024) (here), the Appellate Division, First Department affirmed an order involving claims for unfair competition, tortious...more
12/16/2024
/ Bad Faith ,
Confidential Information ,
Contract Terms ,
Established Business Relationship ,
Fraudulent Inducement ,
Independent Contractors ,
Misappropriation ,
Non-Compete Agreements ,
Non-Disclosure Agreement ,
Non-Solicitation Agreements ,
Third-Party ,
Tortious Interference ,
Trade Secrets ,
Unfair Competition
In Farage v. Associated Ins. Mgt. Corp., 2024 N.Y. Slip Op. 05875 (Nov. 26, 2024) (here), the New York Court of Appeals examined the enforceability of an insurance contract’s two-year suit limitation period. In a 4-3...more
12/9/2024
/ Apartments ,
Appeals ,
Bad Faith ,
Claims Adjusters ,
Compliance ,
Contract Terms ,
Denial of Insurance Coverage ,
Enforcement ,
Fire Damage ,
Insurance Industry ,
Motion to Dismiss ,
Multi-Family Housing ,
New York ,
Property Damage ,
Restoration Terms
Arbitration is an alternative form of dispute resolution where the parties voluntarily agree that a neutral person will resolve any legal disputes between them, instead of a judge or jury in a court of law. It is encouraged...more
The foundation of virtually every business and commercial transaction is a contract. It is difficult to imagine a transaction for the purchase or sale of goods, the merger or acquisition of a business, or the provision of...more
It should go without saying that people make mistakes. After all, people are human, and humans make mistakes.
When people draft a document, especially a lengthy or complex one, it is not uncommon for a mistake to be...more
3/11/2024
/ Borrowers ,
Clerical Errors ,
Contract Drafting ,
Contract Terms ,
Fraud ,
Lenders ,
Loan Agreements ,
Loan Documentation ,
Mistake ,
Personal Liability ,
Presumption of Validity ,
Promissory Notes ,
Reformation
In Stagen v. Neu, 2023 N.Y. Slip Op. 06105 (1st Dept. Nov. 28, 2023), the Appellate Division, First Department addressed an issue of contract interpretation involving a word in a settlement agreement that most readers would...more
A common theme in commercial litigation is the assertion of a breach of contract claim and a fraudulent inducement claim. Where both claims are asserted, more times than not, the fraud claim is dismissed under the duplication...more