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Posts Categorized: Contracts

Posted: October 20, 2017

Question of Fact Regarding Whether Time Was of the Essence Precludes Summary Judgment

On October 2, 2017, Justice Ash of the Kings County Commercial Division issued a decision in Scott Randolph LLC v. Gholis of Brooklyn Corp., 2017 NY Slip Op. 32086(U), holding that there was a question of fact regarding whether time was of the essence in a real estate contract, explaining: Where time is not made… Read more »

Posted: October 14, 2017

Construction-Related Claims Barred by “No Damages for Delay” Clause

On September 28, 2017, Justice Knipel of the Kings County Commercial Division issued a decision in Pabco Construction Corp. v. Liberty Mutual Insurance Co., 2017 NY Slip Op. 32045(U), dismissing a claim based on a construction contract’s “no damages for delay” clause, explaining: The validity of the plaintiffs claim, as pleaded against the surety in… Read more »

Posted: October 4, 2017

Unsigned Employment Agreement Void Under Statute of Frauds

On September 20, 2017, Justice Platkin of the Albany County Commercial Division issued a decision in Gonick v. Adirondack Research & Management, Inc., 2017 NY Slip Op. 51216(U), holding that an unsigned employment agreement was void under the statute of frauds, explaining: To be an effective and valid employment contract, all the essential elements thereof… Read more »

Posted: September 30, 2017

Term Sheet Not a Binding Contract

On September 26, 2017, the First Department issued a decision in Keitel v. E*TRADE Financial Corp., 2017 NY Slip Op. 06624, holding that the parties’ term sheet was not a binding contract, explaining: The term sheet relied upon by plaintiff states that it “sets forth the general intent of the parties to discuss in good… Read more »

Posted: September 26, 2017

Plaintiff’s Voluntary Payment of Disputed Sum and Delay in Bringing Suit Dooms Claims

On September 18, 2017, Justice Sherwood of the New York County Commercial Division issued a decision in Beltway 7 Properties, Ltd. v. Blackrock Realty Advisers, Inc., 2017 NY Slip Op. 31985(U), dismissing claims relating to a payment alleged to have been made under duress under the voluntary payment doctrine and because of the plaintiff’s delay… Read more »

Posted: September 20, 2017

Alleged Breach by Plaintiff Insufficient to Prevent Judgment on Contract Claim

On September 11, 2017, Justice Masley of the New York County Commercial Division issued a decision in New York University v. International Brain Research Foundation, Inc., 2017 NY Slip Op 31934(U), granting a plaintiff summary judgment on its breach of contract claim despite the presence of evidence that the plaintiff failed fully to comply with… Read more »

Posted: September 17, 2017

Manager of Delaware LLC Must Exercise Rights Granted to it in Good Faith

On September 8, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in Marbo Holdings Corp. v. Fulton Capitol, LLC, 2017 NY Slip Op. 31912(U), holding that even where an LLC manager is given discretion to act for its own benefit, it still must exercise that discretion in good faith, explaining:… Read more »

Posted: August 28, 2017

No Breach of Covenant of Good Faith and Fair Dealing; Plaintiff Received Benefits of Contract

On August 23, 2017, the Second Department issued a decision in Rayham v. Multiplan, Inc., 2017 NY Slip Op. 06306, holding that there was no breach of the covenant of good faith and fair dealing where the plaintiff was not deprived of the benefits of the parties’ contract, explaining: The Supreme Court also properly granted… Read more »