Practice point: The business judgment rule does not shield cooperatives from liability for breaches of contract. A breach of a tenant's proprietary lease by
the cooperative's board of directors may be the best of the options open
to the board, but that does not protect it from liability for that
breach.
Student note: Injunctive relief may only be awarded if the movant makes a clear
showing of a probability of success on the merits, a danger of
irreparable injury in the absence of an injunction, and that the
balancing of the equities weighs in its favor.
Case: Goldstone v. Gracie Terrace Apt. Corp., NY Slip Op 05725 (1st Dept. 2013).
Here is the decision.
Tomorrow's issue: An injury on a municipal basketball court.
