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It should come as no surprise that as the economy continues to sputter, falter, or whatever your term of choice may be, that many real estate brokers have taken an increasingly aggressive stance in protecting their commissions. The flip side of that same coin is that the other parties to the deal have likewise hardened [...]
If there were such a contest, I think this case wins the “most absurd lawsuit of the day.” In Kassis Management, Inc. v. Verizon New York, Inc., the plaintiff claimed damages in breach of contract and consumer fraud as a result of Verizon’s “promise” to move its phone service from one location to their new [...]
Let’s start with the general rule: New York courts disfavor allowing parties to recoup their legal fees that are incurred in litigation. As New York’s courts have put it: “It is well settled that legal fees are not recoverable unless provided under the terms of a contract or authorized by statute.” See, U.S. Underwriters Ins. [...]
I find it sad when people learn a lesson the hard way. On the other hand, I understand why the Court, and the New York Legislature set up the rules in this fashion: simply put, if they allowed unlicensed contractors to still get paid for work that requires a license, then that would effectively abrogate [...]
In an article entitled “Finders Play Matchmaker, For a Fee,” which appeared in the August 27 edition of the Wall Street Journal, it was noted that there seems to be an increasing trend of sellers offering a finder’s fee rather than the more traditional broker’s fee in an effort to move their properties or businesses. [...]
That’s exactly the question that was recently posed, or in legal terms, “certified,” to New York State’s highest court by the Federal system’s Second Circuit Court of Appeals. In Bessemer Trust Company, N.A. v. Branin, the plaintiff sued one of its former executives in federal court for damages they allegedly sustained when he solicited his [...]
3 Reasons Why
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