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Tag Archives: contract

When Email Exchanges Become Binding Contracts

August 8, 2017 by Adam Leitman Bailey and John Desiderio In Stonehill Capital Management v. Bank of the West, 28 NY3d 439 (2016), the New York Court of Appeals held that an agreement to sell a distressed loan, in the auction loan trading market, was enforceable without the execution of a formal written contract. While  Full Article…

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Getting a Brokerage Commission Paid

By: Adam Leitman Bailey & Jeffrey R. Metz February 20th, 2013 Brokers who deal with commercial properties are increasingly being denied their duly earned commissions. Given the multi-million transactions that are often involved in the world of commercial real estate in New York City, these commissions can be considerable and worth fighting over. Many of  Full Article…

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Defining When “Time is of the Essence”

By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions.  Full Article…

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