Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The Yellowstone injunction is implicated in nearly every lease for commercial real property in the state of New York, yet most landlords and tenants do not know what it is or how it affects them. Below is a succinct overview of its implications so that commercial landlords and tenants can better navigate lease disputes.
|Yellowstone injunctions take their name not from the popular neo-Western drama series but from the New York Court of Appeals case of First National Stores v. Yellowstone Shopping Center that created this limited-purpose injunction. In that case, the landlord and tenant disagreed about who was responsible for installing a sprinkler system, which the court ultimately decided was the tenant's responsibility. Although the tenant was able and willing to make the installation once the court said so, the tenant had not asked to pause the cure period, and the landlord had terminated the lease for default. New York's highest court decided it was not empowered to extend the tenant's deadline to cure its default and upheld the lease termination.
This case conceptualized and gave rise to the remedy referred to as a Yellowstone injunction. Its purpose is to stop the running of the applicable cure period: it prevents a commercial landlord from prematurely terminating a lease for default until a court decides whether the alleged default is proper or not.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.