In addition to the express terms of a contract, “every contract in New Jersey contains an implied covenant of good faith and fair dealing.” Sons of Thunder, Inc. v. Borden, Inc. , 690 A.2d 575, 587, 148 N.J. 396, 420 (N.J. 1997) [subscribers... Read More
Most Virginia litigators will tell you that there are four elements to a claim of tortious interference with contractual relations in Virginia: (1) the existence of a valid contractual relationship or business expectancy; (2) knowledge of the relationship... Read More
Liquidated damages are damages the amount of which has been agreed upon in advance by the contracting parties. When a contract contains a liquidated-damages provision, the amount of damages in the event of a breach is either specified, or a precise method... Read More
“Under federal and New York law, an account stated ‘refers to a promise by a debtor to pay a stated sum of money which the parties had agreed upon as the amount due.’ ” National Econ. Research Assocs., Inc. v. Purolite “C”... Read More
In Virginia, covenants not to compete (a.k.a. non-competition agreements or simply "noncompetes") are considered restraints on trade and are therefore disfavored in the law. Unlike California, which prohibits them outright , Virginia will enforce... Read More
You know the old expression, variously attributed to Samuel Goldwyn and others , “ a verbal contract isn’t worth the paper it’s written on.” In fact, of course, unless the statute of frauds applies, an oral contract is as good... Read More