Legal Opinion
Gramercy Equities Corp. v. Dumont
New York Court of Appeals
Decided November 22, 1988PublishedCited by 55 opinions
1Opinion of the Court
OPINION OF THE COURT
Kaye, J.
Where one joint venturer, managing the business of the joint venture, alone commits an intentional fraud against third parties resulting in the recovery of damages by them, he is not thereafter entitled to be indemnified by the other joint venturer.
This appeal — involving solely the allocation of damages between coventurers inter se — arises out of the conversion of a Manhattan building from commercial lofts to a residential cooperative. In early 1978, Paul Dumont (plaintiff) and Anthony Russo (defendant) entered into an oral agreement to sponsor conversion of the…
2Cases cited9 opinions
- Meinhard v. SalmonNew York Court of Appeals · 1928
- Rosado v. Proctor & Schwartz, Inc.New York Court of Appeals · 1985
- Pedersen v. Manitowoc Co.New York Court of Appeals · 1969
- Forman v. LummAppellate Division of the Supreme Court of the State of New York · 1925
- Lord v. . HullNew York Court of Appeals · 1904
4 more not listed; retrieve them via the Exa API.
3Cited by55 opinions
- Richbell Information Services, Inc. v. Jupiter Partners, L.P.Appellate Division of the Supreme Court of the State of New York · 2003
- Scholastic, Inc. And Scholastic Productions, Inc. v. Robert Harris and Harris Entertainment, Inc.Court of Appeals for the Second Circuit · 2001
- ESI, Inc. v. Coastal Power Production Co.District Court, S.D. New York · 1998
- Kidz Cloz, Inc. v. Officially for Kids, Inc.District Court, S.D. New York · 2004
- Independent Energy Corp. v. Trigen Energy Corp.District Court, S.D. New York · 1996
50 more not listed; retrieve them via the Exa API.