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PRIME INCOME ASSET MANAGEMENT, INC. v. AMERICAN REAL ESTATE HOLDINGS L.P.

4557, 603164/05, 4558, 590118/09.

82 A.D.3d 550 (2011)

918 N.Y.S.2d 467

PRIME INCOME ASSET MANAGEMENT, INC., et al., Appellants, v. AMERICAN REAL ESTATE HOLDINGS L.P. et al., Respondents. (And a Third-Party Action.)

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

Decided March 17, 2011.

Supreme Court properly determined that plaintiffs failed to raise an issue of fact regarding defendants' alleged waiver of their entitlement to the liquidated damages set forth in section 12 (b) of the contract. Even if, as plaintiffs contend, the letter dated June 15, 2005 could rise to the level of a waiver of defendants' contractual right to seek liquidated damages, or constitute a written amendment to the contract vitiating...

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