New York Court of Appeals Roundup

'Stonehill Capital' Clarifies When an Agreement Is Binding and Enforceable

, New York Law Journal


In their New York Court of Appeals Roundup, Roy Reardon and William T. Russell Jr. review a decision where the court found a defendant had entered into a binding agreement and was liable for breach despite the fact that its acceptance of a bid was expressly subject to the execution of a final agreement and despite the fact that the defendant expressly reserved the right, in its sole and absolute discretion, to withdraw from sale any or all of the assets it had offered to sell.

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