News & Analysis as of

Breach of Contract Statute of Limitations

Third Circuit Holds That Statutes Of Limitation May Be Tolled By Books-And-Records Demands Under Delaware Law Despite Inquiry...

by Shearman & Sterling LLP on

On June 13, 2017, Chief Judge Smith of the United States Court of Appeals for the Third Circuit reversed in part the District Court’s dismissal of claims for breach of contract as untimely. Norman v. Elkin, No. 16-1924 (3d...more

Georgia Court of Appeals Affirms Dismissal of Georgia Patronage Capital Lawsuits

The Georgia Court of Appeals has affirmed the dismissal of two class action patronage capital lawsuits against Oglethorpe Power Corporation, Georgia Transmission Corporation (GTC), and certain distribution electric membership...more

Partnership Dissolution And A Chief Judge’s Lament

by Allen Matkins on

Decisions by U.S. District Court judges typically begin with an identification of the parties, an explanation of the procedural posture of the case, or a description of the dispute. Chief Judge Lawrence J. O’Neill, however,...more

M&A Indemnification Provisions: Are You Drafting Unenforceable Time Limits?

In an M&A transaction, the convention is for the seller to make representations and warranties to the buyer regarding the target business. When the target business is a private company, the acquisition agreement typically...more

Suit Limitation Period In Standard Flood Insurance Policy Is Not Tolled By Filing In State Court: Hurricane Irene Claim Dismissed...

The terms and conditions of the Standard Flood Insurance Policy (“SFIP”) are specified by regulations promulgated under the National Flood Insurance Act (“NFIA”). One of the terms in the SFIP provides that the insured cannot...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - SEC Adopts T+2 Settlement Cycle for Securities Transactions - On March 22, 2017, the Securities and Exchange Commission (SEC) adopted an amendment to Rule 15c6-1(a), shortening the...more

UPDATE: Can an Intended (and Disappointed) Beneficiary Still Sue a Will’s Drafter?: The General Assembly of Virginia Enacts a...

by LeClairRyan on

Back in the summer I wrote a post discussing the impacts of the Thorsen decision by the Supreme Court of Virginia. In Thorsen, a testator wanted to leave her estate to a charity if her daughter did not survive her. The...more

Merger does not invalidate noncompete, nonsolicitation covenants

by Kirton McConkie PC on

When corporate mergers and acquisitions take place, the parties frequently ask, “What is the effect on the acquired company’s contracts?” That was the issue in a case involving noncompetition and nonsolicitation covenants in...more

Delaware Supreme Court Explains Setoff And Recoupment

by Morris James LLP on

This decision explains the difference between a defendant’s right of setoff and recoupment. The key difference is that the right of setoff arises out of an independent transaction, while recoupment must be based on the same...more

The Nuts and Bolts of Tolling an Insurance Policy’s Suit Limitation Provision in New Jersey

A recent New Jersey Federal District Court decision provides a good example of how an insurance policy’s Suit Limitation period may be “stopped” and “re-started” by equitable tolling during the adjustment of a property...more

It's Good to be King: Time to File a Lawsuit Does Not Run Against the Pennsylvania Government

In the recent case of Township of Salem v. Miller Penn Development, LLC, the Pennsylvania Commonwealth Court invoked the often overlooked doctrine of nullum tempus occurrit regi. Read literally as “time does not run against...more

A Development in Trade-Secret Cases

by Gray Reed & McGraw on

The big trade-secret case, Southwestern Energy v. Berry-Helfand, has been worked over by the Texas Supreme Court. Highlights: - Lack of certainty in damages does not preclude recovery. - A “Flexible and...more

Too Little, Too Late: The Harsh Bright Line of Suit Limitation Provisions

by Carlton Fields on

Approximately twenty percent of Americans have been classified as chronic procrastinators, which means one in five policyholders faces a potential problem when suing for coverage. While the statute of limitations for breach...more

New York Court Dismisses Insureds’ Bad Faith and Fraud Claims

In its recent decision in Clement v. Farmington Cas. Co., 2015 U.S. Dist. LEXIS 152221 (S.D.N.Y. Nov. 10, 2015), the United States District Court for the Southern District of New York had occasion to consider what causes of...more

Superior Court Explains Continuing Contract Law

by Morris James LLP on

The statute of limitations for a breach of a "continuous contract” does not accrue until the contract is at an end. But what is a ”continuous contract?” This decision attempts to explain that concept that largely turns on...more

New Hampshire Federal Court Rules That England’s Statute Of Limitations Applies To A Cedent’s Breach Of Contract Claim

by Carlton Fields on

In a diversity action based upon breach of a facultative reinsurance certificate, a New Hampshire federal court recently held that England’s six-year statute of limitations governed a cedent’s contract claim, rejecting the...more

Real Property, Financial Services & Title Insurance Update: Week Ending October 16, 2015

by Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more

Google’s Strategic Purchase of Rights and Counterclaim Do Not Survive Delaware’s Statute of Limitations - Personalized User Model,...

by McDermott Will & Emery on

Addressing the requirements for tolling the statute of limitations (SOL), the U.S. Court of Appeals for the Federal Circuit affirmed the district court’s grant of judgment as a matter of law (JMOL), finding that the district...more

Employee Benefits Alert - August 2015

by Franczek Radelet P.C. on

Retirement Plans - IRS Issues Guidance on Benefit Suspension Voting under MPRA - As we have written in prior alerts, the Multiemployer Pension Reform Act of 2014 (MPRA) permits trustees of financially troubled...more

Federal Circuit Patent Updates - August 2015

by WilmerHale on

The Dow Chemical Company v. Nova Chemicals Corporation (No. 2014-1431, -1462, 8/28/15) (Prost, Dyk, Wallach). Dyk, J. Reversing award of supplemental damages. "We hold that the intervening change in the law of...more

I will survive: Help your reps and warranties endure with a smart survival clause

by Thompson Coburn LLP on

The desire to protect oneself is human nature. Nowhere is that more obvious than when drafting complex commercial real estate deals, where parties often have conflicting goals regarding liability....more

ERISA Plan Can't Shrink Deadlines Without Providing Notice, Says 3rd Circuit Court of Appeals

by Fisher Phillips on

The 3rd Circuit Court of Appeals just ruled that an ERISA plan can’t shorten the deadline for filing a legal action challenging a denial of benefits unless the participant receives written communication of the plan’s altered...more

Summary of California Appellate Decisions -August 2015

Insurance; Duty To Defend; Insurance Coverage; Intentional Acts; Sexual Misconduct - Gonzalez v. Fire Insurance Exchange (2015) 234 Cal.App.4th 1220, 184 Cal.Rptr.3d 394 (WL 960927) - Facts: This is an...more

Tenth Circuit Addresses ERISA Limitations Provision in Class Action Decision

by GableGotwals on

In Fulghum v. Embarq. Corp., 785 F.3d 395 (10th Cir. 2015), the Tenth Circuit Court of Appeals considered the claims of a class of telephone company retirees whose life and health insurance benefits were reduced or eliminated...more

New York’s Highest Court Affirms Dismissal of RMBS Suit Against DB Structured Products as Time-Barred

On June 11, 2015, the New York Court of Appeals issued its decision in the closely-followed case of ACE Securities Corp., Home Equity Loan Trust, Series 2006-SL2 v. DB Structured Products, Inc. New York’s highest court...more

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