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Daily Archives: Monday, January 21, 2019

Posted: January 21, 2019

Even Though Contract Gave the Defendant Discretion to Calculate Losses on Sale, it Was Required to Exercise That Discretion Reasonably

On January 17, 2019, the First Department issued a decision in┬áLehman Bros. Intl. (Europe)(in administration) v. AG Fin. Prods., Inc., 2019 NY Slip Op. 00364, holding that even though a contract gave the defendant the discretion to take certain acts, it had to exercise that discretion reasonably, explaining: Despite the discretion afforded to defendant under... Read more »