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If you’re going to move money around from one project to another when your company is insolvent, i.e., “when the present fair salable value of his assets is less than the amount of that will be required to pay his probable liability on his existing debtors as they become absolute and matured,” you do so [...]
Earlier today, I got what was hands-down, the most ridiculous phone call seeking legal services in New York that I have ever received. Here are the pertinent facts: This guy (we’ll call him “A’) was mistakenly over-billed by a company (we’ll call them “C”) for services that they rendered. Simple enough, right? But this was [...]
Lending further credence to our earlier article, “Why Many (If Not Most) Business Fraud Claims Are Dismissed By New York’s Courts,” a New York County trial judge recently dismissed a plaintiff’s fraudulent misrepresentation claims. You might be inclined to ask, “Isn’t fraudulent misrepresentation materially different than garden-variety fraud (which was discussed in the article above)?” [...]
As you may recall from my earlier articles, “Why Many (If Not Most) Business Fraud Claims Are Dismissed” and “How to Prove a Successful Business Fraud Claim Under NY Law,” it is very tough to prevail on a fraud claim in New York, because the pleadings (i.e., the allegations you make in your court papers) [...]
Reading the appellate court’s rendition of the facts in this breach of contract, breach of non-competition agreement and fraudulent inducement/concealment case, it is clear that the court empathized with the plaintiff, and wanted to allow the plaintiffs their day in court. The sordid details are as follows: In GoSmile, Inc. v. Levine, the defendant founded [...]
In GoSmile, Inc. v. Levine, a decision that was handed down on December 21, New York’s Appellate Division, First Department (which covers New York and Bronx Counties) was confronted with the following question: “whether a plaintiff is permitted to assert claims for both fraud and breach of contract, where the fraud claim is based upon [...]
As a corollary to our blog article “When You Can Incur Personal Liability for a Debt in New York,” the question arises as to what New York’s courts will do when a claimant tries to hold a corporate officer personally liable in either breach of contract or fraud. To that end, in a November 18 [...]
If the unsubstantiated claims of this plaintiff are actually true, then I feel bad for the plaintiff. But, as noted by the Court, therein lies the problem: the allegations are unsubstantiated. In Lecce Penn Co. SPA v. Adrenaline Marketing & Promotions, Inc., the plaintiff sued in breach of contract and fraud to recover over $300,000 [...]
In my earlier blog post “Why Fraudulent Concealment Claims Are So Tough to Win in New York,” I pointed out that one of the challenges of these claims is posed by contractual language that the purchaser signs stating that they didn’t rely on any representations by the seller. As a New York trial court recently [...]
Under New York law, when a seller deliberately hides information that is critical to the buyer’s decision to invest or not to invest, this is generally referred to as “fraudulent concealment.” A word of caution is in order, however: this type of claim is particularly challenging because in addition to the traditional elements of proof [...]
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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