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If you are an insurance broker, and were wondering how you are supposed to protect against having your commission agreement breached, a decision that was rendered by a New York Federal judge last week – and published in today’s New York Law Journal – provides an excellent roadmap. In Guy Carpenter & Company v. Lockton, RE, LP, [...]
While it is true that, generally speaking, you can’t recover in fraud or negligence against someone unless you actually have an agreement with them (or in legal terms, are “in privity”), there is a narrow – but important – exception to this rule. And that is when the relationship is close enough that they’re no [...]
In the breach of contract context, one of the most common – and potent – defenses to these cases is that the agreement was never reduced to writing, and therefore barred by New York’s Statute of Frauds. There is a narrow, but important exception to this rule: when the contract is terminable at will, or, [...]
Contrary to popular belief, the failure to obtain a fully signed (or, in legal terms, “executed”) agreement is not fatal to a breach of contract claim. That’s not to say it isn’t far better to have a fully executed agreement; it’s just that it doesn’t automatically mean you don’t have a valid, enforceable agreement either. [...]
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 [...]
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 [...]
They may have been naive, but they’re entitled to a shot at vindication before a jury, held New York’s Court of Appeals in DDJ Management LLC v. Rhone Group, LLC. In this case, the plaintiffs sued to recover their losses after learning that the $4o million loans they extended to the defendants turned out to [...]
If you take an unreasonable position and refuse to pay for services that were rendered, you should be prepared to have a court rule against you. And that’s exactly what happened in John Anthony Rubino & Co. CPA v. Schwartz (a decision that is scheduled to appear in tomorrow’s edition of the New York Law [...]
3 Reasons Why
Your Employment Agreement
May be Worthless
NY Breach of Contract Guide:
When You Don't Have a
Written Agreement
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