News & Insights

Partnership Agreements Govern Partnership Disputes

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

CAN A PROFESSIONAL BE LIABLE FOR MALPRACTICE WITHOUT A CONTRACTUAL RELATIONSHIP?

Malpractice

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

NEW YORK CITY PROTECTS PERSONAL GUARANTORS OF COMMERCIAL LEASES IN COVID-19 DEFAULTS

New York City

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

CAN YOU SUE A NEIGHBORING PROPERTY OWNER TO STOP THEIR CONSTRUCTION?

NEIGHBORING PROPERTY

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

DEBTOR AVOIDS PAYING MORTGAGE BECAUSE OF LENDER’S DELAY IN PURSUING FORECLOSURE

debtor

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

BUYING THE ASSETS OF A BUSINESS? AVOID A DE FACTO MERGER

de facto

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

Information About Economic Duress

economic duress

Generally, courts will respect and enforce the terms of a contract. However, one exception to that rule involves situations where one party was coerced into signing a contract by the other party. Economic duress occurs when one side threatens to breach the agreement if the other party doesn’t accept the new terms. When it occurs, … Read more