Blogs

Monthly Archives: November 2020

Posted: November 30, 2020

Admission to Existence and Essential Terms of Oral Agreement Defeats Statute of Frauds

On November 17, 2020, the First Department issued a decision in CAS Mkt’ing & Licensing Co. v. Jay Franco & Sons, Inc., 2020 NY Slip Op. 06704, holding that admissions to the existence and terms of an oral contract defeated the Statute of Frauds, explaining: [D]efendant’s argument that the parties’ contract is unenforceable under the... Read more »

Posted: November 29, 2020

Forum Non Conveniens Dismissal Affirmed

On November 17, 2020, the First Department issued a decision in Diwan v. Grinberg, 2020 NY Slip Op. 06708, affirming a forum non conveniens dismissal, explaining: The court considered the proper factors for dismissal under CPLR 327, including the burden on the court, the residence of the parties, the location of evidence and witnesses, and... Read more »

Posted: November 28, 2020

Affidavit Attesting to the Contents of Business Records Without Attaching the Records Inadmissible Hearsay

On November 12, 2020, the Second Department issued a decision in Countrywide Home Loans Servicing, L.P. v. Vorobyov, 2020 NY Slip Op. 06492, holding that an affidavit attesting to the content of business records without attaching them was inadmissible hearsay, explaining: Generally, in moving for summary judgment in an action to foreclose a mortgage, a... Read more »

Posted: November 27, 2020

Settlement Agreement Involving the Sale of Real Property Unenforceable Under Statute of Frauds

On November 12, 2020, the Second Department issued a decision in Ehrenreich v. Israel, 2020 NY Slip Op. 06499, holding that a settlement agreement requiring the sale of real property was unenforceable under the Statute of Frauds, explaining: We agree with the defendants that the causes of action in the complaint, all of which are... Read more »

Posted: November 24, 2020

Mere Guarantor Bound by Agreement’s Arbitration Clause

On November 10, 2020, the First Department issued a decision in Matter of Finkelman v. Hagshama Brooklyn 14 Park Slope Platinum, LLC, 2020 NY Slip Op. 06387, holding that a mere guarantor was bound by an agreement’s arbitration clause, explaining: Petitioner signed a joint venture agreement containing an arbitration clause in his representative capacity only... Read more »

Posted: November 23, 2020

Federal Court Stays Coverage Action Where Insurer’s Duty to Defend and Indemnify Is Contingent on Facts at Issue In Underlying State Court Action

Posted by Bradley J. Nash, Litigation Partner On October 22, 2020, Judge Román of the SDNY issued a decision in U.S. Specialty Ins. Co. v. Village of Chester, Case No. 19-cv-467(NSR), staying an insurer’s declaratory judgment action pending the resolution of a parallel state court action that would determine the factual issues underlying the coverage... Read more »

Posted: November 23, 2020

RMBS Trustee’s Obligation to Hold the Trust’s Contractual Rights and to Exercise Them For the Benefit of Certificateholders Includes Affirmative Duty to Enforce Those Rights

On November 5, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Western & S. Life Ins. Co. v. U.S. Bank N.A., 2020 NY Slip Op. 51307(U), holding that an RMBS trustee’s obligation to hold the trust’s contractual rights and to exercise them for the benefit of certificateholders includes an... Read more »

Posted: November 22, 2020

Fraud Claim Based on Omissions Fails in Light of Disclosure that Not All Material Information Was Being Disclosed for Securities Law Reasons

On November 5, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Silver Point Capital Fund, L.P. v. Riviera Resources, Inc., 2020 NY Slip Op. 51308(U), holding that a fraud claim based on an omission fails because the material information was withheld for securities law reasons, explaining: To state a... Read more »