NEW EYNON ASSOCIATES, L.P. v. LEHMAN BROTHERS HOLDINGS INC.


275 A.D.2d 642 (2000)

713 N.Y.S.2d 176

NEW EYNON ASSOCIATES, L.P., Appellant, v. LEHMAN BROTHERS HOLDINGS INC., Doing Business as LEHMAN CAPITAL, A DIVISION OF LEHMAN BROTHERS HOLDINGS, INC., Respondent.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided September 21, 2000.


Defendant provided plaintiff with a mortgage loan commitment letter on March 17, 1998 which, by its terms, provided that it would terminate 60 days later, on May 16, 1998. On April 8th, plaintiff purported to accept the commitment but conditioned its acceptance on Lehman's agreement to 19 additional conditions. On May 15th, the day prior to the ostensible termination of the commitment letter, Lehman specifically rejected plaintiff's counteroffer except to the extent set forth...

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