When is a Guarantor a Third Party Beneficiary of Another Guaranty?

I recently handled a case where a lender moved for for summary judgment on a guaranty. We opposed the motion there was a material dispute of fact as to whether the guarantors were third-party beneficiaries of a secondary guaranty from the SBA, and thus the liability of my clients and the amount due were not clear. Here is an exception from my brief: Read more

Unjust Enrichment Defense in Debt Collection

In a recent case, I opposed a motion for Summary Judgment in a collection action with the defense of unjust enrichment. The creditor attempted to recover the same debt twice from different guarantors. Here is on of the defenses, I argued: Read more

You’re Frustrating Me…

Sometimes when you have a duty to perform either by agreement or contract, it simply cannot be done because the other party hasn’t done their part or has prevented you from doing yours. Clearly this can be frustrating, and fortunately New York law protects us from this. Take a quick look at this excerpt from a brief to see how the frustration of performance defense applies in court. Read more

Why thousands of homeowners are getting money for mortgage abuses they never suffered

Thousands of homeowners will get a pleasant surprise in the mail this summer: checks to (wait for it) compensate them for foreclosure problems they never suffered.

What Does It Mean to be Deceptive or Misleading in a Guaranty?

Have you ever wondered if you were tricked or duped into signing a guaranty or now feel surprised by some hidden terms you didn’t know about when you signed? Well, here is the standard in New York to determine if there was any deceptive or misleading conduct that may get you off the hook: Read more

Double Recovery and the Single Satisfaction Rule

New York’s General Obligations Law has been held to bar creditors from recovering upon a debt twice. This is commonly referred to as the Single Satisfaction Rule. Clearly, the someone was listening to the Rolling Stones. In a recent case I opposed a motion for Summary Judgment against a guarantor of a debt raising this issue of Single Satisfaction of a debt recovery. Here is a quick excerpt of my brief: Read more