FRYDMAN LLC BLOG
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FRYDMAN LLC BLOG
BROKERS ARE AFFORDED GREAT PROTECTION BY NEW YORK COURTS
This post has musings from recent briefing we did representing a broker seeking a commission for a real estate transaction. In New York, the default rule for real estate brokers is that they earn their commission when they produce a buyer who is...
DOES AN EMPLOYER’S $180 MILLION THEFT INVALIDATE AN EMPLOYEE’S NON-COMPETE?
What happens to an employee’s non-compete covenant if the employer and its top executives are convicted of assorted felonies – like stealing $180 million? We have previously written that New York Courts will not enforce a non-compete covenant...
FRYDMAN LLC OBTAINS DISMISSAL OF ALL CLAIMS IN CONSTRUCTION DEFECTS ACTION
Frydman LLC recently won a motion for summary judgment dismissing a complaint that raised significant allegations and sought relief that could have cost our clients millions of dollars. One Frydman LLC’s areas of practice concentration is real...
HOW AN ORAL AGREEMENT COST TWIN BROTHERS TWO JIMI HENDRIX GUITARS
In the middle of the 48th anniversary of the Woodstock music festival, we pause to remember legendary guitarist Jimi Hendrix – and a recent lawsuit involving a dispute over ownership of two of Jimi’s guitars. The outcome of the suit is a reminder...
HACKING EMAIL ACCOUNTS IS A BAD LITIGATION STRATEGY
It might seem obvious that hacking into your adversary’s email account and stealing email is a dangerous litigation tactic, but that has not stopped New York litigants from trying. Unsurprisingly, New York Courts do not condone email theft and the...
USURY AND WHEN IS A LOAN A LOAN
New York, like many states, provides a usury defense against enforcement of certain loans, which stated simply means that if the interest rate is too high, the borrower can avoid repayment. Usury applies to non-contingent loans (e.g. the lender...
NY STATUTE OF FRAUDS BARS ENFORCEMENT OF AN ORAL AGREEMENT TO PAY A FINDER OF A BUSINESS OPPORTUNITY
It is not uncommon for a person to act as a finder and receive compensation for presenting a business opportunity to a businessperson. The two might agree the finder will receive a cash fee or perhaps a percentage of revenue derived from the...
USING YOUR WORK EMAIL COULD WAIVE THE ATTORNEY-CLIENT PRIVILEGE
This post provides a cautionary tale about using work email for confidential communications with your attorney. It might seem obvious that discussing confidential legal strategy with your attorney in a crowded elevator could waive the...
NO WRITTEN OPERATING AGREEMENT? … BIG PROBLEM.
Sometimes when partners are starting up a business, they fail to follow corporate formalities. Whether because of a lack of funds, lack of attention to detail, lack of time, lack of desire to crimp new business relationships or simply a lack of...
A COMPETITOR HAS STOLEN YOUR TRADE SECRETS – WHAT DAMAGES CAN YOU RECOVER?
What damages may a business recover when its trade secrets are stolen and used by a competitor? Traditionally, courts have allowed businesses to recover actual losses caused by the trade secret theft – such as lost opportunities for profit. Are...
CONTRACT RIGHTS – USE ‘EM OR LOSE ‘EM
Oftentimes businesspeople sign a contract and put it in a drawer never to see the light of day again – unless a dispute arises. Especially with long-term contracts, trying to informally work things out might be efficient from a business...
JUST HOW RESTRICTIVE ARE RESTRICTIVE COVENANTS?
Many employers and employees alike assume that a non-compete covenant in an employment agreement will be enforced without issue if an employee violates it. The reality, however, is far less certain. In New York, the general public policy favoring...
This Blog is for general informational purposes only, is not legal advice for any specific matter and does not create an attorney-client relationship.