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Daily Archives: Tuesday, February 4, 2020

Posted: February 4, 2020

Contract’s Definition of Term Controls, Not the Common Understanding of the Term’s Meaning

On January 28, 2020, the First Department issued a decision in Condor Capital Corp. v. CALS Invs., LLC, 2020 NY Slip Op. 00536, holding that a contract’s definition of a term controlled over the common understanding of the term, explaining: The parties’ contract defines MOIC Target as 115% of the Target. In turn, Target is... Read more »