In re Part 60 Put-Back Litigation
| Docket Number | 84 |
| Decision Date | 22 December 2020 |
In this residential mortgage-backed securities (RMBS) action the Court of Appeals reversed the order of the Appellate Division and reinstated the order of Supreme Court, holding that, in a breach of contract action, the public policy rule prohibiting parties from insulating themselves from damages caused by grossly negligent conduct applies only to exculpatory clauses or provisions that limit liability to a nominal sum
At issue was a contract that contained a sole remedy provision that...
Get this document and AI-powered insights with a free trial of vLex and Vincent AI
Get Started for FreeStart Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial
64 cases
-
Scottsdale Ins. Co. v. McGrath
...must be directed to plaintiff; and (4) it must be part of a pattern directed at the public." Matter of Part 60 Put-Back Litig. , 141 N.Y.S.3d 410, 422, 36 N.Y.3d 342, 165 N.E.3d 180 (2020) (internal quotation marks omitted) (quoting N.Y.Univ. , 639 N.Y.S.2d at 287, 662 N.E.2d 763 ). Further......
-
IKB International, S.A. v. Wells Fargo Bank, N.A.
...to sit on its hands," which would "effectively nullify the ... language of the repurchase protocol"]; cf. Matter of Part 60 Put–Back Litig., 36 N.Y.3d 342, 348, 165 N.E.3d 180 [2020] [a "sole remedy provision [that] purports to limit, but not eliminate, the remedies available to the plainti......
-
AEA Middle Mkt. Debt Funding v. Marblegate Asset Mgmt.
...long as the contract language is clear and unequivocal and the clause does not violate statutory law or a separate rule of public policy" (id. at 352). A contract clause shields a party from liability for its willful or grossly negligent acts is against public policy and will not be enforce......
-
Yuille v. Uphold HQ Inc.
...liability for breaches of contract when the breach arises from grossly negligent conduct. See Matter of Part 60 Put-Back Litig., 36 N.Y.3d 342, 141 N.Y.S.3d 410, 165 N.E.3d 180, 185-86 (2020) ("In a pure breach of contract case, where a defendant's conduct does not give rise to separate lia......
Get Started for Free
1 books & journal articles
-
Keeping Current-Property
...for the ruling. The court felt compelled to enforce the bar- gain, freely made between sophisticated parties. In re Part 60 Put-Back Litig., 36 N.Y.3d 342 (N.Y. 2020). NUISANCE: Public nuisance nance is facially valid, but owner is entitled to judicial review of its chal- lenges before cond......