Articles Posted in Commercial Law

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Dominion and Bransen entered into a contract wherein Bransen was paid $27 million for coal product which would satisfy rigid specifications and environmental regulations. When Bransen failed to deliver product meeting the requirements, Dominion filed suit in district court. Dominion was awarded partial summary judgment on claims related to Bransen's delivery of coke breeze, and the district court held in favor of Dominion after a bench trial on its claims related to the delivery of waste coal. The district court awarded Dominion $22 million in damages. The court affirmed the district court's ruling in favor of Dominion as to liability where Bransen was liable for delivery product that did not satisfy the contracts between the parties. The court rejected Bransen's argument that the district court awarded damages, including indirect damages, in violation of Section 8.8 of the parties' contract, and rejected Bransen's challenges to the calculation of the damages award. Because the court found no error, the court affirmed the district court's judgment. View "Virginia Electric and Power v. Bransen Energy" on Justia Law

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Plaintiff filed a quiet title claim against Bank of New York ("BNY") after he failed to make payments on a loan for over a half of a year and BNY foreclosed on his property. At issue was whether BNY lacked authority to carry out the sale where plaintiff alleged that America's Wholesale Lender, the original lender, had authority to foreclose on the property. The court held that plaintiff's note plainly constituted a negotiable instrument under Va. Code. Ann. 8.3A-104 and that note was endorsed in blank. Therefore, BNY possessed the note at the time it attempted to foreclose on the property and once plaintiff defaulted on the property, Virgina law straightforwardly allowed BNY to take the actions that it did.