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Case Citations [1] (Spring 2024)

handle is hein.ali/contract0197 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Spring 2024 Citations CONTRACTS Generally S.D.N.Y.2022. Cit. in disc. Investment fund brought an action for violations of the Investment Advisors Act against financial firms and others responsible for managing a portfolio of collateralized loan obligations in which plaintiff had invested, alleging that defendants mismanaged the portfolio such that it lost value and caused plaintiff significant financial losses. This court granted defendants' motions to dismiss, holding that plaintiff did not state a claim under the Act, because there was no allegation that any agreement governing defendants' management of the portfolio was entered into illegally or required illegal performance. The court noted that the Act meant to codify the modest principle set forth in the Restatement of Contracts: that illegal contracts were invalid. Nexpoint Diversified Real Estate Trust v. Acis Capital Management, L.P., 620 F.Supp.3d 36, 44. CHAPTER 11. BREACH OF CONTRACT TOPIC 2. FACTS THAT CONSTITUTE A BREACH AND DETERMINE WHETHER IT IS TOTAL OR PARTIAL § 314. Breach by Failure to Render a Promised Performance D.N.D.2022. Quot. in sup. Purchaser of dash cams sued seller, alleging, inter alia, that defendant breached the purchase agreement entered into between the parties, because defendant's dash cams and tablets did not perform as represented by defendant. This court denied in part defendant's motion to dismiss, holding that plaintiff stated a claim for breach of contract, because plaintiff alleged the existence of an agreement entered into between the parties, that defendant breached it by failing to provide dash cams that performed as promised, and that plaintiff was forced to purchase replacement dash cams. Citing Restatement of Contracts § 314, the court pointed out that, while the terms of the parties' purchase agreement did not expressly require defendant to provide working dash cams, defendant's obligation to provide functioning dash cams could be inferred from the agreement. FastTrac Transportation, LLC v. Pedigree Technologies, LLC, 618 F.Supp.3d 858, 864-865. COPYRIGHT ©2024 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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