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By Jonathan H. Freiberger Folks have general notions about usury.  However, there are many nuances to the application of the usury laws in New York.  This BLOG has previously written about usury.  See [< here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> .]  As noted in our prior BLOG articles, usury statutes were developed centuries ago to “protect desperately poor people from the consequences of their own desperat

By:   Jeffrey M. Haber It should go without saying that people make mistakes. After all, people are human, and humans make mistakes.  When people draft a document, especially a lengthy or complex one, it is not uncommon for a mistake to be made. Lawyers who draft contracts and other written instruments are not immune from this phenomenon. Given the steps a lawyer must take to draft and finalize an agreement or other written instrument there are numerous opportunities for unin

By Jonathan H. Freiberger People and businesses enter into all kinds of contracts with the expectation that the other party will perform according to the respective promises of the parties.  [This BLOG has discussed the basics of contract formation and breach, inter alia , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> and < here =">here</a>"> .] It is well known that a party to a contra

By Jonathan H. Freiberger This BLOG has written numerous times on issues related to statutes of limitation in mortgage foreclosure actions.  See, e.g., < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> and < here =">here</a>"> . As previously described in this BLOG an action to foreclose a mortgage is governed by a six-year statute of limitatio

By: Jeffrey M. Haber It’s been some time since this Blog has written about Regulation Best Interest (“BI”). 1 See here . 2 As a general matter, Reg BI requires a broker, dealer, or associated person to act in the best interest of a retail customer when making a recommendation of a securities transaction (the “Best Interest Obligation”).  Today, we examine an enforcement action and settlement of charges against TIAA-CREF Individual & Institutional Services LLC (“TC Services”

By:  Jeffrey M. Haber In New York, “a valid release constitutes a complete bar to an action on a claim which is the subject of the release.” If “the language of a release is clear and unambiguous, the signing of a release is a ‘jural act’ binding on the parties.” For this reason, “ release should never be converted into a starting point for … litigation except under circumstances and under rules which would render any other result a grave injustice.” In New York, “a releas

By Jonathan H. Freiberger Today we revisit CPLR 3215(c), a provision addressed several times by this Blog.  See, e.g., < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> and < here =">here</a>"> . By way of brief background, and as set forth in one of our prior Blogs, Rule 3215(c) of the New York Civil Practice Law and Rules provides, in pertinent part, that: If the plaintiff fails to take proceedings for the ent

By: Jeffrey M. Haber In Rosenberg v. OSG, LLC , 2024 N.Y. Slip Op. 00691 (1st Dept. Feb. 8, 2024) ( here ), the Appellate Division, First Department underscored the insufficiency of pleading a fraud claim on information and belief. In affirming the dismissal of plaintiffs’ fraudulent inducement claim, the Court held that such pleading was “per se defective.” 1 Rosenberg is a class action arising out of plaintiffs’ participation in the Odyssey Study Group (“OSG”), which is ru

By Jonathan H. Freiberger This BLOG has written numerous times on statutes of limitation issues in mortgage foreclosure actions.  See, e.g., < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> , < here =">here</a>"> and < here =">here</a>"> . Briefly stated, and as has been stated previously in this BLOG, an action to foreclose a mortgage is governed by a six-year statute of limitations.  CP