NEW YORK FRAUD CLAIMS

Nearly twenty years ago, the Appellate Division, First Department rocked the transactional world by throwing out a release and undoing a sale transaction between owners of a limited liability company based upon the unbending fiduciary duties the managing member of …

As I explained in a prior post:  “In real property transactions, the doctrine of caveat emptor (‘let the buyer beware’) bars a claim for fraud against the seller for failing to disclose information unless the seller ‘actively conceals’ relevant and …

As I have explained, the civil tort of fraud gives rise to a broad array of remedies and legal consequences, such as nullifying transactions (known as rescission), monetary damages, punitive damages, serving the predicate for federal statutory damages, preventing discharge …

The Commercial Division, Albany County (Platkin, J.), has rendered an analytical decision carefully examining the special facts doctrine and whether contractual representations and warranties can serve as the basis of the factual misrepresentations needed for fraud claims, in Berkshire Bank …

The elements of a cause of action for fraud are well known and often cited:  “a misrepresentation or a material omission of fact which was false and known to be false by [the] defendant, made for the purpose of inducing …