On July 08, 2021, the First Department issued a decision in Matter of Philadelphia Ins. Indem. Co. v. Kendall, 2021 NY Slip Op. 04284, holding that an attorney’s standard e-mail signature block is sufficient to create a binding agreement, explaining: CPLR 2104, entitled “Stipulations,” reads in pertinent part: “An agreement between parties or their attorneys... Read more »
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Commercial Division Blog
Posts Categorized: Commercial
Action Must be Dismissed if Plaintiff Fails to Seek a Default Judgment Within One Year
On July 7, 2021, the Second Department issued a decision in US Bank N..A. v. Davis, 2021 NY Slip Op. 04251, holding that a case must be dismissed if a plaintiff fails to take action to seek a default judgment within one year of the default, explaining: CPLR 3215(a) provides that when a defendant has... Read more »
Tax Returns Are Not 3211(a)(1) Documentary Evidence
On June 28, 2021, Justice Livote of the Queens County Commercial Division issued a decision in Matter of Mattone Group Spripgnex LLC v. CFM Dev. LLC, 2021 NY Slip Op. 31958(U), holding that tax returns were not documentary evidence under CPLR 3211(a)(1), explaining: [W]hile a tax return can constitute evidence of a written assignment tax... Read more »
Agreement to Set-Off Future Payments by Amount of Unpaid Debt Not Improper Agreement to Extend Statute of Limitation Prior to Accrual of Claim
On July 1, 2021, the First Department issued a decision in Wagner v. Pegasus Capital Advisors, L.P., 2021 NY Slip Op. 04198, holding that an agreement to set-off future payments by the amount of an unpaid debt was not an improper agreement to extend the statute of limitation prior to the accrual of a claim,... Read more »
Negligent Misrepresentation Claim Fails for Failure Adequately to Allege Special Relationship
On July 1, 2021, Justice Platkin of the Albany County Commercial Division issued a decision in Berkshire Bank v. Pioneer Bank, 2021 NY Slip Op. 50619(U), holding that a negligent misrepresentation claim failed because it did not adequately allege a special relationship between the plaintiff and defendant, explaining: A fiduciary relationship exists between two persons... Read more »
Offering Circular Cannot be Used to Help Interpret an Unambiguous Indenture
On June 28, 2021, Justice Reed of the New York County Commercial Division issued a decision in In the matter of U.S. Bank N.A., 2021 NY Slip Op. 50617(U), holding that an offering circular cannot be used to help interpret an unambiguous indenture, explaining: The court is not persuaded that the Offering Circular should be... Read more »
Breach of Fiduciary Duty Claim Dismissed for Lack of Damages
On June 24, 2021, the First Department issued a decision in Besen v. Farhadian, 2021 NY Slip Op. 04080, dismissing a breach of fiduciary duty claim for lack of damages, explaining: To state a claim for breach of fiduciary duty, plaintiffs must allege that (1) defendant owed them a fiduciary duty, (2) defendant committed misconduct,... Read more »
Defamation Claim Dismissed Based on Absolute Litigation Privilege
On June 17, 2021, the First Department issued a decision in Lewis v. Pierce Bainbridge Beck Price Hecht LLP, 2021 NY Slip Op. 03911, holding that a defamation claim was barred by the absolute litigation privilege, explaining: The alleged statements made by defendant Conley in the course of litigation are immune from liability for defamation... Read more »
Where Arbitration Provision is Broad, it is for the Arbitrator, not the Court, to Determine Arbitrability
On June 17, 2021, the First Department issued a decision in Strongbow Consulting Group LLC v. PricewaterhouseCoopers LLP, 2021 NY Slip Op. 03929, holding that where an arbitration provision is broad, it is for the arbitrator, not the court, to determine arbitrability, explaining: Where, as here, the parties have a broad arbitration clause and the... Read more »
Award Vacated Because it was Issued After the Deadline Set by the Parties
On June 11, 2021, Justice Platkin of the Albany County Commercial Division issued a decision in Matter of Papakonstadinou v. Sparakis, 2021 NY Slip Op. 50543(U), vacating an arbitral award because is was issued after the deadline set by the parties, explaining: CPLR 7507 requires the arbitrator’s award to be issued within the time fixed... Read more »