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Contract Terms New York

Freiberger Haber LLP

Settlement Term Sheet Constitutes Instrument for the Payment of Money Only

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Pursuant to CPLR 3213, a plaintiff may commence an action “based upon an instrument for the payment of money only or upon any judgment” by filing a summons and motion for summary judgment in lieu of complaint. The statute...more

Harris Beach Murtha PLLC

Second Circuit Limits Jurisdiction to Review Challenges to Arbitration Awards

The United States Court of Appeals for the Second Circuit recently weighed in on the proper role of American federal courts in adjudicating the validity of arbitration awards made in foreign countries. In Molecular Dynamics,...more

Davidoff Hutcher & Citron LLP

Restrictive Covenants in Restaurant Ownership Agreements: Enforceability in New York

Restrictive covenants are critical in restaurant ownership agreements to protect business interests, prevent unfair competition, and safeguard proprietary information. However, in New York, courts scrutinize these clauses to...more

Morrison & Foerster LLP

New York Lawmakers Approve Ban on Rent Minimum Clauses in Mortgage Loan Transactions: Bill Not Yet Signed Into Law By Governor

How much chaos might a three-sentence bill that was quietly passed by the New York State legislature sow on the real estate lending industry? Potentially plenty. On June 13, 2025, a bill passed by the New York Assembly (A....more

Jones Day

New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

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On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Perkins Coie

New York and Colorado Update Auto-Renewing Subscription Requirements

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Recent enforcement actions underscore the growing risks for businesses with automatically renewing subscriptions. In June 2025, New York Attorney General Letitia James announced a $600,000 settlement with fitness company...more

FordHarrison

New York Lawmakers Consider Progressive Reforms to Severance Agreements

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The New York State Senate passed the “No Severance Ultimatums Act” (“the Act”), which, if enacted, “prevents employers from giving coercive ultimatums to employees or former employees relating to such employee's severance...more

Clark Hill PLC

The fashion industry’s legal makeover: What the New York State Fashion Workers Act means for the fashion world

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The New York State Fashion Workers Act (“FWA”), effective June 19, represents a significant shift in labor protections for the modeling industry. As the first U.S. law to impose fiduciary duties, contract transparency, and AI...more

Eversheds Sutherland (US) LLP

Preference pitfalls for Merchant Cash Advances—Lessons from the Southern District of New York

Merchant cash advance (MCA) funding provides a quick, “non loan” alternative for small businesses desiring to access additional capital, and its use has become prevalent in the last decade. Given the speed at which MCA...more

Kelley Drye & Warren LLP

NY Quietly Amends Automatic Renewal Law

On May 9, 2025, New York Governor Kathy Hochul signed a large budget bill with ​“major components of legislation necessary to implement the state transportation, economic development, and environmental conservation budget for...more

Cozen O'Connor

NY Settles with Equinox for Allegedly Making Consumers Sweat over Negative Option Plans

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New York AG Letitia James entered into a settlement with Equinox Group, LLC (Equinox Group), which operates fitness services under Equinox, Equinox+, and SoulCycle, resolving allegations that its subscription and cancellation...more

Kilpatrick

4 Key Takeaways | NY Sales Tax on Cloud-Based Document Management Services

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On May 20th, Kilpatrick tax partner Jeff Reed presented during a New York City Bar SALT Committee meeting. Jeff discussed the recent NetVoyage New York Division of Tax Appeals sales tax determination....more

Kelley Drye & Warren LLP

The New York State Legislative Push for Minimum Review Periods in Severance Agreements

Employers are already familiar with the age-related requirements of federal law applicable to an employee’s release of claims if the employee is 40 or older: they have up to 21 days to consider the release, and seven...more

Farella Braun + Martel LLP

New York Legislature Looking to Expand Restrictions on Severance Offers

The New York legislature may soon pass the “No Severance Ultimatums Act,” which would require all employment severance agreements except those negotiated through collective bargaining to include (1) a 21-business day review...more

Freiberger Haber LLP

RPAPL 1501(4) and the Mortgagee in Possession Doctrine

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Today’s article addresses a property owner’s right to cancel a recorded mortgage pursuant to RPAPL 1501(4)[1] and whether a mortgagee is “is entitled to recover sums expended to preserve and maintain an allegedly abandoned...more

Goldberg Segalla

New York Appellate Court: Rental Companies Not Statutorily Required to Provide Primary Coverage to Customers

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New York’s state appellate court recently declared rental car companies are not required to provide primary insurance coverage to their rental customers. Instead, the court concluded that New York law requiring the companies...more

Bradley Arant Boult Cummings LLP

Yes, Damages for Delay: Court Permits Delay Damage Claim to Proceed

A federal court in upstate New York is permitting a subcontractor’s delay claim to proceed notwithstanding a “no damages for delay” provision in the subcontract. The case, The Pike Company, Inc. v. Tri-Krete, Ltd., involves...more

Epstein Becker & Green

No Ultimatums: New York State Lawmakers Contemplate New Mandatory Provisions for Severance Agreements

On March 4, 2025, the New York Senate passed Senate Bill S372 (the “No Severance Ultimatums Act” or “S372”)....more

Jones Day

Uptiers in 2025: Impact of the Serta and Mitel Decisions on Liability Management Exercises

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Late last year, the U.S. Court of Appeals for the Fifth Circuit and the Appellate Division of the Supreme Court of the State of New York issued important rulings regarding the validity of uptier “liability management...more

Sheppard Mullin Richter & Hampton LLP

New York Legislature’s Proposed Amendments Would Impact Employment Agreements

Two bills recently introduced in New York’s legislature could have a major impact on New York employers seeking to enter into employment-related agreements with employees. Invalidating “Unconscionable” Contract Terms - ...more

Davis Wright Tremaine LLP

Lights, Camera, Legislation: Are Your Entertainment Contracts AI Ready?

With artificial intelligence becoming increasingly commonplace in the entertainment industry, lawmakers are enacting legislation regulating the use of AI as well as state privacy laws that regulate the use of personal and...more

Troutman Pepper Locke

New York Senate Passes First-in-the-Nation Bill Requiring Mandatory Review and Revocation Period for All Severance Agreements

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Under current law, New York employers are statutorily required to provide a 21-day review and seven-day revocation periods in employment separation agreements in two scenarios: (1) if the employee is 40 or older and the...more

Zelle  LLP

The Aftermath of Covid-19 – New York’s Expansion of Business Interruption Coverage

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It is without question that Covid-19 affected the insurance industry worldwide resulting in substantial litigation commenced by insureds to recoup losses linked to government mandated shutdowns for nonessential businesses....more

DarrowEverett LLP

LLC's Failure to Execute Operating Agreement Opens Legal Trapdoor

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While entity distinctness is a bedrock principle of corporate law, it may often appear redundant and unnecessary for a limited liability company (“LLC”) to sign its own operating agreement. That was likely the thinking of the...more

Littler

New York’s Digital Replica Law and its Impact on Artificial Intelligence and the Entertainment Industry

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New York Senate Bill 7676B regulates contracts for the creation and use of digital replicas. This law took effect on January 1, 2025. The law defines “digital replica” as “a digital simulation of the voice or likeness of an...more

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