New York Panel Rules that Indemnification Clauses of Contracts Must Meet the "Exacting" Test to Entitle a Prevailing Party to Attorney's Fees.
A recent decision by the Appellate Division of the First Department of New York will have a reverberating effect on how indemnification language will be negotiated and drafted in New York contracts and undoubtedly influence a party's choice as to whether to pursue costly litigation. Read this alert to learn more about the decision and its ramifications.
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