Legal Opinion
Equitable Lumber Corp. v. IPA Land Development Corp.
New York Court of Appeals
Decided January 15, 1976PublishedCited by 128 opinions
1Opinion of the CourtGabrielli, J.
In this case, one of first impression in this court, 1 the issue presented is the enforceability of a provision in a commercial sales contract which (1) stipulates that the seller may recover the reasonable value of attorney’s fees incurred as a result of the buyer’s breach and (2) attempts to liquidate such sum at 30% of the amount recovered by the plaintiff in the event that the buyer’s failure to make payments due under the contract requires the services of an attorney for collection.
Plaintiff, a lumber company, entered into a contract with defendant, a builder and developer, in which…
2Cases cited15 opinions
- Wilson Trading Corp. v. David Ferguson, Ltd.New York Court of Appeals · 1968
- Seidlitz v. . AuerbachNew York Court of Appeals · 1920
- Ward v. Hudson River Building Co.New York Court of Appeals · 1891
- Wirth & Hamid Fair Booking, Inc. v. WirthNew York Court of Appeals · 1934
- Jones v. Star Credit Corp.New York Supreme Court · 1969
10 more not listed; retrieve them via the Exa API.
3Cited by128 opinions
- Hooper Associates Ltd. v. AGS Computers, Inc.New York Court of Appeals · 1989
- Gillman v. Chase Manhattan Bank, N. A.New York Court of Appeals · 1988
- Truck Rent-A-Center, Inc. v. Puritan Farms 2nd, Inc.New York Court of Appeals · 1977
- Mid-Hudson Catskill Rural Migrant Ministry, Inc., Plaintiff-Appellant-Cross-Appellee v. Fine Host Corporation, Defendant-Appellee-Cross-AppellantCourt of Appeals for the Second Circuit · 2005
- F.H. Krear & Co. v. Nineteen Named TrusteesCourt of Appeals for the Second Circuit · 1987
123 more not listed; retrieve them via the Exa API.