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Posts Categorized: Contracts

Posted: February 18, 2017

Court Rejects Claim Based on Term Sheet for Later-Memorialized Agremeent

On February 6, 2017, Justice Singh of the New York County Commercial Division issued a decision in Pate v. BNY Mellon-Alcentra Mezzanine III, L.P., 2017 NY Slip Op. 30256(U), rejecting a breach of contract claim based on the terms sheet for a later-memorialized agreement, explaining: The amended complaint alleges that: 1) the Term Sheet is… Read more »

Posted: February 17, 2017

Guarantee of Borrower’s Obligations Under Agreement Not Document Amenable to CPLR 3213 Action

On February 14, 2017, the First Department issued a decision in PDL Biopharma, Inc. v. Wohlstadter, 2017 NY Slip Op. 01151, holding that a guarantee of a borrower’s contractual obligations was not an instrument amenable to summary judgment in lieu of complaint under CPLR 3213, explaining: The prototypical example of an instrument within the ambit… Read more »

Posted: February 16, 2017

Broad Coverage Exclusion Does Not Render Insurance Policy “Illusory” Where Some Coverage Is Afforded

On February 14, 2017, the Court of Appeals issued a decision in Lend Lease (US) Construction LMB Inc. v. Zurich American Insurance Co., 2017 NY Slip Op. 01141, holding that a broad coverage exclusion in a builder’s risk insurance policy did not render the policy “illusory” because it did not “defeat all of the coverage… Read more »

Posted: February 12, 2017

Contract Claim Dismissed as Vague and Conclusory

On February 1, 2017, Justice Singh of the New York County Commercial Division issued a decision in Publications International, Ltd. v. Phoenix International Publications, Inc., 2017 NY Slip Op. 30225(U), dismissing a breach of contract claim for being too vague, explaining: The allegations of the “manipulated returns” claim are set forth in paragraphs 41 through… Read more »

Posted: February 10, 2017

Failure to Inform Client of Retention of Co-Counsel Does Not Render Retainer Unenforceable

On February 9, 2017, the Court of Appeals issued a decision in Marin v. Constitution Realty, LLC, 2017 NY Slip Op. 01019, holding that the failure to inform a client of the retention of co-counsel did not render the retainer unenforceable. In Marin, the plaintiff’s attorney-of-record engaged co-counsel to assist her in a matter, agreeing… Read more »

Posted: February 4, 2017

Court Issues Injunction Enforcing Covenant Not to Compete

On January 12, 2017, Justice Ash of the Kings County Commercial Division issued a decision in Shimon v. Paper Enterprises, Inc., 2017 NY Slip Op. 30101(U), issuing an injunction enforcing a covenant not to compete, explaining: It is well established that covenants not to compete, which relate to the sale of a business and its… Read more »

Posted: January 31, 2017

Court Did Not Abuse Discretion in Precluding Expert on Interpretation of ISDA Agreement

On January 24, 2017, the First Department issued a decision in Good Hill Master Fund L.P. v Deutsche Bank AG, 2017 NY Slip Op. 00428, holding that it was not an abuse of discretion to exclude an expert on contract interpretation, explaining: [T]he trial court properly granted Good Hill’s motion to preclude certain expert testimony… Read more »

Posted: January 29, 2017

Plaintiff Fails to State Claim for Reporter’s Failure to Publish Article Based on Plaintiffs’ Exclusive Information

On January 13, 2017, Justice Ramos of the New York County Commercial Division issued a decision in Rondeau v. Berman, 2017 NY Slip Op. 30079(U), holding a plaintiff had failed to state a claim for breach of contract arising from a reporter’s failure to publish an article based on the plaintiff’s exclusive tip. In Rondeau,… Read more »