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When NDAs Go Bad: Proactive and Timely Steps to Protecting Your Company Against NDA-Related Disputes
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Understanding Breach of Contract Damages: Compensatory vs. Consequential
When two parties execute a contract, they are legally bound to abide by the terms of the agreement. If one party breaches the contract, it can cause considerable problems for the other party. Following a breach of contract, the non-breaching party can choose from several legal remedies. In this article, we discuss...
Remedy specified in a contract is not subject to “other available remedies” clause in that contract
In Highline LLC v. 514 W. 24th St. Partners LLC, 2021 NY Slip Op. 31042(U), the Court held that when the contract itself specifies the remedy for a party's violation of a particular clause in the contract, that specified remedy will prevail and be enforced over another clause...
A Guide to Restrictive Covenants (Noncompete clauses)
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Effective Tips to Help Review Contracts
You should never sign a contract until you’ve performed a full and thorough review. However, if you are inexperienced with contracts, it can be difficult to distinguish between routine and important contractual issues. In this article, we discuss some key things to look out for when reviewing a contract.
Client alleging accountant malpractice must show that there was a departure from the accepted standards of practice
In response to a client's allegations of malpractice, the Court--in Dean v. Brodman, 2021 NY Slip Op. 01842--held that the accounting firm was able to show that it followed accepted standards of practice when it prepared the client's tax information. The Court stated that an accountant may rely...
Strategies for Settling Common Business Partnership Disputes
A common risk of business partnerships is that they may deteriorate and become adversarial. When this happens, the business relationship isn’t the only thing that is at risk. In addition to the deterioration of the partnership itself, business partnership disputes often result in significant financial losses, tarnished reputations, and bad feelings all...
Benefits of Alternative Dispute Resolution
Litigation isn’t the only way to resolve a legal dispute. Rather than risking a lengthy and expensive court battle, parties may attempt to resolve their differences by agreeing to participate in alternative dispute resolution. Common alternative dispute resolution methods include mediation, negotiation, and arbitration. In this article, we examine the many benefits...
Contract signed by a yet-to-be-formed entity is binding on its principals (owners) and the contract’s counterparty
In Sutton v. Houllou, 2021 NY Slip Op. 08211, the Appellate Division, Second Department held that a party who entered into contract with a company that had not yet been formed cannot avoid its obligations under the contract. Conversely, the individual who signed the contract using the name of a company that had...