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IDT CORP. v. TYCO GROUP

No. 135

2009 NY Slip Op 07481

IDT CORP. ET AL., Appellants, v. TYCO GROUP, S.A.R.L., ET AL., Respondents.

Court Appeals of the State of New York.

Decided October 22, 2009.

Attorney(s) appearing for the Case

Stephen P. Younger, for appellants.

Thomas E. L. Dewey, for respondents.

Opinion by Judge Jones. Judges Ciparick, Graffeo, Read, Smith and Pigott concur. Chief Judge Lippman took no part.

JONES, J.

At issue in this breach of contract action is whether the settlement agreement made the negotiation and execution of further agreements a pre-condition to the parties' obligation. We hold that it did and affirm the order of the Appellate Division.

By written settlement agreement entered October 10, 2000, IDT and Tyco agreed to drop their pending lawsuits. The pending lawsuits arose from a dispute between IDT and Tyco over a Memorandum of Understanding...

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