Credit: eamesBot/Shutterstock 'New Business Rule' Evolves, Slowly
A rule barring new businesses from recovering lost profits is overly harsh, but the legal standard established in 'Schwartz' appears to be identical to the standard already applicable to established businesses.
August 21, 2022 at 10:00 AM
3 minute read
For nearly a century, New Jersey courts have consistently imposed a per se ban on a new business's claims for lost profits on the ground that such claims cannot be proven with reasonable certainty. In a unanimous opinion issued last week, the New Jersey Supreme Court opened the door to such claims, but with ill-defined limitations. Schwartz v. Menas (August 17, 2022).
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