COHEN v. BUSINESS PAYMENTS SYSTEMS, LLC

6755, 601936/08.

92 A.D.3d 467 (2012)

938 N.Y.S.2d 521

2012 NY Slip Op 848

JOSEPH COHEN et al., Appellants, v. BUSINESS PAYMENTS SYSTEMS, LLC, Respondent.

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

Decided February 7, 2012.


Defendant Business Payments Systems (BPS) is engaged in the business of marketing and selling credit card processing services to merchants. On August 22, 2005, BPS entered into a sales agreement with the limited liability company One Stop, of which plaintiff Joseph Cohen is a principal. The sales agreement defined "residual" to mean all merchant revenues collected by BPS "in excess of the fees set forth in Exhibit A." Thus, the "residual" payments which BPS remitted to One...

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