Posts Categorized: Rescission

Posted: June 10, 2021

Party Not Entitled to Rescission of Contract When it Had An Adequate Remedy at Law

On May 20, 2021, the First Department issued a decision in Sky Coverage Inc. v. Alwex Inc., 2021 NY Slip Op. 03271, holding that a plaintiff was not entitled to rescission when it had an adequate remedy at law, explaining: Although the motion court properly denied plaintiffs’ motion for summary judgment on plaintiffs’ rescission claim,... Read more »

Posted: October 13, 2018

Fact Questions Regarding Whether Contract Breach Was So Material As to Justify Rescission Preclude Summary Judgment

On September 28, 2018, Justice Ostrager of the New York County Commercial Division issued a decision in Sabby Healthcare Master Fund Ltd. v. Microbot Med. Inc, 2018 NY Slip Op. 32429(U), holding that fact questions regarding whether a breach of contract was so material as to justify rescission precluded summary judgment, explaining: Rescission should be granted only... Read more »

Posted: July 2, 2018

Commercial Liability Policy Properly Rescinded Based on Material Misrepresentation in Insurance Application

On June 18, 2018, Justice Bannon of New York County Supreme Court issued a decision in Union Mut. Fire Ins. Co. v. 72nd Forest Hills Ass’n, 2018 NY Slip Op 31265(U), holding that an insurance carrier properly rescinded a commercial liability policy, under Insurance Law § 3105(a), based on material misrepresentations in the insurance application.... Read more »