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Representations and Warranties Breach of Contract Statute of Limitations

DarrowEverett LLP

Survival Periods and Delaware’s Statute of Limitations in M&A

DarrowEverett LLP on

Delaware is well known as a favored jurisdiction for mergers and acquisition deals, and for good reason — the jurisdiction’s business-friendly legal environment offers numerous efficiencies and predictability. Attorneys and...more

Bilzin Sumberg

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

Bilzin Sumberg on

Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

Lowenstein Sandler LLP

Is New York or Delaware More Protective of the Freedom to Contract? Two Important New York Decisions on the Accrual of Breaches of...

Lowenstein Sandler LLP on

New York and Delaware each enjoy an excellent reputation in the business world and typically provide the governing laws and are the jurisdictions of choice in domestic (and many international) commercial contracts. But which...more

Morris James LLP

CCLD Offers Guidance on the Application of Tolling Doctrines to M&A Agreement Clauses Modifying the Statute of Limitations for...

Morris James LLP on

AssuredPartners of Virginia, LLC v. Sheehan, C.A. No. N19C-02-175 AML CCLD (Del. Super. Ct. May 29, 2020) - A disgruntled buyer brought suit against its seller for breaches of representations and warranties four years...more

Morris James LLP

Chancery Offers Guidance on When the Limitations Periods Begin to Run For Claims Concerning Breaches of Representations and...

Morris James LLP on

Kilcullen v. Spectro Scientific, Inc., C.A. No. 2018-0429-KSJM (Del. Ch. July 15, 2019). Delaware law provides for a default three-year statute of limitations period for breaches of contract, generally applicable to claims...more

Farrell Fritz, P.C.

Does "freedom of contract" really exist when it comes to statute of limitations in a mortgage-backed securities contract?

Farrell Fritz, P.C. on

Although we generally report on recent Commercial Division decisions, and sometimes commercial cases coming out of the Appellate Divisions, this time we go all the way to the top: the Court of Appeals. Not often do we see...more

Cadwalader, Wickersham & Taft LLP

Accrual Clauses in RMBS Contracts Violate New York Law and Public Policy

On October 16, 2018, the New York State Court of Appeals held that contractual attempts to extend the statute of limitations for causes of action involving breaches of contract are unenforceable because they violate New York...more

Womble Bond Dickinson

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

Womble Bond Dickinson on

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

Orrick - Finance 20/20

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

Orrick - Finance 20/20 on

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

Stinson - Corporate & Securities Law Blog

Chancery Explains New Delaware Statute of Limitations

In Bear Stearns Mortgage Funding Trust 2006-SL1 v. EMC Mortgage LLC et al, the Delaware Court of Chancery explained the operation of Section 8106(c) of the Delaware statutes for the first time. The results are surprising to...more

Mintz

Survival of Reps and Warranties: Avoiding Unpleasant Surprises for Buyers

Mintz on

Survival of representations and warranties (“reps and warranties”) is among the staples of highly negotiated provisions in M&A purchase agreements. The length of the survival period limits the time during which claims may be...more

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