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Daily Archives: Saturday, June 22, 2019

Posted: June 22, 2019

Changing a Draft Contract Proffered by Counterparty Extinguishes Offered Contract and Represents a Counteroffer

On June 13, 2019, the First Department issued a decision in Brown v. Cerberus Capital Mgt., L.P., 2019 NY Slip Op. 04772, holding that changing a draft contract proffered by a counterparty extinguishes the offered contract and only represents a counteroffer, explaining: Contrary to defendants’ contention, Brown did not release her claims. The purported release... Read more »