EQUITABLE LBR. v. IPA CORP.


38 N.Y.2d 516 (1976)

Equitable Lumber Corp., Appellant, v. IPA Land Development Corp., Respondent.

Court of Appeals of the State of New York.

Decided January 15, 1976.


Attorney(s) appearing for the Case

Max Ornstein for appellant.

Murray L. Skala and Gabriel Kaszovitz for respondent.

Chief Judge BREITEL and Judges JASEN, JONES, WACHTLER, FUCHSBERG and COOKE concur.


GABRIELLI, 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...

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