
Blog


Agreements That Are Not Loans Are Not Subject to New York’s Usury Statutes
- Dec 22 2021
By: Jeffrey M. Haber “A transaction … is usurious under criminal law when it imposes an annual interest rate exceeding 25%.”1 General Obligations Law § 5–521 bars a corporation from asserting …

Enforcement News: California-Based Broker-Dealer Settles With SEC in Connection with The Unregistered Distribution of Stock and The Failure to File SARs Pertaining to Those Transactions
- Dec 20 2021
By: Jeffrey M. Haber Broker-dealers are required to file suspicious activity reports (“SARs”) for transactions suspected to involve fraud or a lack of an apparent lawful business purpose. In that …

Second Department Holds That Envelopes Containing Pre-Foreclosure Notices to Borrowers Pursuant to RPAPL 1304 Cannot Contain Any Other Notices or Information
- Dec 17 2021
By Jonathan H. Freiberger Followers of this Blog know that we frequently address issues involving residential mortgage foreclosure. Actions involving the pre-foreclosure requirements of RPAPL 1304 are frequently decided by …

Forum Selection Applies To Dispute Even As to Non-Signatories Under the “Close Relationship” Doctrine
- Dec 15 2021
By: Jeffrey M. Haber A forum selection clause is contractual provision that sets forth the location designated by the parties for dispute resolution. Such clauses can be found in virtually …

Sales Receipt with Broad Arbitration Clause Sufficient to Compel Arbitration
- Dec 13 2021
By: Jeffrey M. Haber The “policy of [the State of New York is] to encourage arbitration.”1 For this reason, “[a]ny doubts as to whether an issue is arbitrable will be …

Service of Process and Personal Jurisdiction
- Dec 10 2021
By Jonathan H. Freiberger There are two “components and constitutional predicates of personal jurisdiction.” Keane v. Kamin, 94 N.Y.2d 263, 265 (1999). “One component involves service of process, which implicates …

Wills, Promises to Perform, Representations to Third Parties and Loss Causation
- Dec 8 2021
By: Jeffrey M. Haber As readers of this Blog know, one of the elements of a fraud claim is reliance. In the typical case, the defendant makes a false or …

Disclaimers and Justifiable Reliance – What a Pair!
- Dec 6 2021
By Jeffrey M. Haber As readers of this Blog know, to recover damages for fraud, a plaintiff must allege “a misrepresentation or a material omission of fact which was false …

Great News For Attorneys and Lenders: Second Department Awards Foreclosure Counsel $71,451.11 in Attorney’s Fees — EVERYTHING Counsel Requested
- Dec 3 2021
By Jonathan H. Freiberger A major concern raised by potential clients when deciding whether to commence litigation is whether they are entitled to recoup their legal fees if they prevail. …