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Articles Posted in Litigation

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Interest Rate on $1.13 Million Secured Loan Deemed Usurious and Unenforceable

A few months ago, the First Department appellate court invalidated a $1.13 million loan because it found its charges and interest to violate New York’s criminal usury laws. The interesting facts of this case are worthy of discussion. In 2009, ASI, a corporation, needed an immediate cash infusion. Blue Wolf,…

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Court Enforces Contract “Boiler-Plate” Language

In another example of sophisticated parties ignoring the obvious, the parties to an option contract fought over the implication of standard contract language which provided that the option contract was supported “by good and valid consideration” and thus enforceable. In a somewhat complex case, the parties entered into an agreement…

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The Bridesmaids Had No Dresses-but Were the Damages Sought Speculative?

Defendant failed to complete eight bridesmaids dresses until two hours after the ceremony was scheduled to begin, when they were delivered by the groom. As a result of this delay, plaintiff incurred a host of delays for which she incurred expenses, including a delay in the bride’s appearance from the…

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Property Inspection Part II-from a Haunted House to the Bat Cave

After writing about the “haunted house” case recently, I came across another case that addressed the same concepts, and also in an unusual setting. The haunted house court had decided that because the buyer could not have anticipated that the house under contract was haunted, and was therefore not expected…

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An Unqualified Offer to Pay a Reward Cannot Be Later Qualified or Negotiated

A musician’s laptop, loaded with valuable proprietary information, was stolen while he was on tour in Germany. A reward was offered, initially set at $20,000, but later raised to $1 million. The plaintiff found the laptop and returned it, but the reward was not paid because the hard drive had…

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