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An insurance application typically requires applicants to answer several questions which allow the insurance company to assess whether it will provide insurance and, if so, how much it will charge. Applicants must be careful about how they respond because if they lie or make a “material misrepresentation” they risk losing coverage. It is well-settled law … Read more
The general rule in New York is that consequential damages are not available to a seller of residential real estate when the purchaser breaches the contract of sale. Consequential damages are damages that result from a breach of contract but would not necessarily occur to every injured party; they are due to an injured party’s … Read more
In New York, the Business Corporation Law (“BCL”) allows a shareholder who owns 50 percent of a corporation to seek dissolution of the business on various grounds. In a somewhat renowned case in legal circles, litigation between the two shareholders of the law firm Cellino & Barnes, P.C. (the “P.C”) addresses one issue that can … Read more
When a party gifts real property to a charity, it is not unusual for them to put a condition on the gift in order to ensure the property will be used for a particular purpose. Such conditions will be encompassed in the language of the deed transferring the property. It does not matter how much … Read more
As a general principle, where parties have a contractual relationship, the terms of the agreement will govern any disputes. While there may be other laws that apply to the relationship, they may only be applicable where the contract is silent, invalid or some exception exists. The importance of the parties’ agreement in resolving conflicts also … Read more
Malpractice arises when a professional (doctor, lawyer, etc.) with a duty of care to a party acts in a negligent manner that causes harm to that party. Typically, the duty of care arises because there is a direct contractual relationship between the parties – that is, the plaintiff hired the defendant. However, in a recent … Read more
On May 26, 2020, New York City Mayor Bill DeBlasio signed a new law addressing the liability of personal guarantors for the debts of commercial tenants that defaulted due to COVID-19. Governor Andrew Cuomo had previously issued Executive Orders which prohibited the imposition of late charges and temporarily halted evictions of commercial tenants. As a … Read more
Before a party can sue in court for anything, he or she must have the standing to bring the lawsuit. To establish standing, a party must demonstrate a sufficient personal connection to and harm from the law or action challenged to support that party’s participation in the case. Essentially, courts want to know that a … Read more
When a debtor defaults on a mortgage, the lender must commence an action for foreclosure within the statute of limitations. In New York, the statute of limitations is six years and it starts running upon the acceleration of the debt following a default in payment. Essentially, when a debtor defaults, the lender “accelerates” the mortgage … Read more
Generally, New York law provides that a company that buys the assets of another business is not liable for the seller’s pre-existing liabilities. However, there are several important exceptions to this rule. One of them is known as the de facto merger doctrine and it creates successor liability when the transaction between the purchasing and … Read more