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NY Court Holds Seller Entitled To Keep Downpayment As Damages For Purchasers Breach of Real Estate Contract

Sometimes the obvious still bears emphasis, even in the real estate litigation context.
If your ability to purchase a property hinges upon which your ability to get needed financing (which is often the case), you’d better make sure that this is memorialized in the contract. Otherwise, you could end up like the defendant in Abart Holdings [...]

Family Feud Leads to Breach of Contract, Fraud and Constructive Trust Claim in Suffolk County

It is a very sad day when you can’t trust your own brother.
According to the plaintiff in the Suffolk County case of Kimelstein v. Kimelstein, he was wrongfully frozen out of his 50% interest in a property that he and brother had acquired jointly through a non-party corporation.  More specifically, he contends that pursuant to [...]

The Practical Difference Between A Development Contract and a Sales Contract Under NY Law

Although, as the title of this article suggests, some things should be fairly obvious, when enough money is at stake, people will still try to throw stuff at the wall to see if any of it will stick.
In a case that they brought in Federal Court in Upstate New York, Opto Generic Devices Inc. (“OGD”) [...]

At-Will Employees’ Breach of Oral Contract Claim For Unpaid Bonuses Survives Dismissal in NY County Case

If an at-will employee resigns before they are paid their commissions, they forfeit their right to collect them, right?
Absolutely not, held a New York County trial court.
In Nichols v. SG Partners, Inc., the plaintiffs were employed by defendant as placement professionals, earning both a base salary as well as a percentage of defendant’s revenues generated [...]

The Cost of Failing to Reduce Your Agreements to Writing in New York

I have to believe that the executives at the plaintiff on-line news company are kicking themselves.
In Al-Bawaba.com, Inc. v. Nstein Tech. Corp., a decision that was discussed in last week’s New York Law Journal, a Kings trial court dismissed their lawsuit against a software company that sought more than $1 million in damages for the [...]

Posted Under: Breach of contract, commercial litigation, specific performance, statute of frauds
This post was written by Jonathan Cooper on February 1, 2010 Comments (0)