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Corporate & Securities Law

: BusinessAssociationsBlog.com

What?s NY and NC Law on No Shops in Letters of Intent?

By Stephen Bainbridge

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Wachovia and Citi had a pretty strong no shop clause in their so-called ”exclusivity agreement,” which calls for NY law to be applied, and includes a specific performance clause. There is no fiduciary out. Assuming NY law applies, is this provision legal? Update: Presumably despite the NY choice of law provision, state of incorporation fiduciary duty law would be relevant to issues...

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Full post as published by BusinessAssociationsBlog.com on October 03, 2008 (boomark / email).

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