You are probably not going to receive a nine-figure payment, whether by accident or on purpose. However, you can still learn some valuable lessons from a group of finance firms that did get $1 billion mistakenly. In a recent case in the U.S. Courts of Appeals for the Second Circuit, the Court addressed whether the … Read more
Most legal claims have a statute of limitations that requires a party to file a lawsuit within a certain time period. The deadline for suing varies depending on the type of claim. However, these rules can be confusing as seen in a recent decision of the New York Appellate Division, Fourth Department. The Court addressed … Read more
In New York, real property is transferred by the execution and recording of a deed with the County Clerk’s Office in the county where the real property is located. There are different types of deeds and property can be conveyed either in whole or in part. While a deed generally evidences the sale or other … Read more
It seems fairly obvious that a party cannot claim to have a valid lease if the other side did not agree to it. However, in a recent New York case, a landlord tried to argue that a prospective tenant should not get back money it paid in advance for a lease that the prospective tenant … Read more
In certain business arrangements, it is common for a party to insist on including an arbitration clause in the agreement. The purpose of such a clause is to avoid the time and expense involved in litigation if a dispute occurs since arbitration is often faster and less costly than going to court. While such provisions … Read more
If someone is injured by an employee, there may be grounds for suing the employer for negligent hiring and retention of that employee. However, there are strict requirements for bringing a claim which can be difficult to establish, as we discussed in a prior blog post involving a lawsuit against a church. In that case, … Read more
The New York Lien Law permits contractors or individuals who provide services and/or materials to a construction project to file a mechanic’s lien against the real property in the event they do not receive payment. However, the filing must meet certain statutory requirements or the mechanic’s lien will be cancelled by the court. In a … Read more
When someone dies without a Will it is known as dying intestate. In this situation, New York intestacy law determines the decedent’s distributees – that is, the individuals entitled to inherit the decedent’s assets. One issue that can cause confusion concerns the rights of distributees when the decedent owns real property. At what point, does … Read more
Conflicts between fiduciaries (whether executors or trustees) and beneficiaries are not unusual. For instance, these often occur with trusts of long duration, where the trustee controls a beneficiary’s access to assets which the beneficiary would prefer to have outright. Disputes may also arise among co-executors or co-trustees, especially if they have differing views on how … Read more
In most contracts, there is specific language regarding how and when a notice to the other party are to be sent. For example, the agreement might specify that notice of termination be given to a certain individual, sent by mail, and/or provided at least 30 days in advance of taking an action. The terms of … Read more