Federal Court Clarifies Duty To Negotiate
Posted In Breach of Contract
Osco Motors Company, LLC v. Marine Acquisition Corp., No. 13-868-RGA-MPT (D. Del. December 2, 2013)
The duty to negotiate in good faith is now well recognized in Delaware under SIGA Acquisition Inc. v. PharmAthene Inc., 67 A.3d 330 (Del. 2013). However, what is less clear is when exactly does that duty arise. This decision explains when the duty is created and distinguishes Delaware from New York law in that respect.
Tags: Breach of ContractShare