LETTER GRADE GETS AN A

In Letter Grade, Inc. v. Jasmine Technologies, Inc., Letter Grade sued Jasmine for defaulting on a promissory note.

The New York County Supreme Court found in Letter Grade's favor and awarded the company $500,000.  When Letter Grade sought to modify the judgment, the New York County Supreme Court denied the request.

On appeal, the Appellate Division, First Department, found Letter Grade was "entitled to accelerate the debt upon defendants' failure to make the first principle payment," increased the company's recovery from $500,000 to $1,000,000, and, also awarded $15,043.09 in attorneys' fees -- since the costs and expenses claimed by counsel were "fair and reasonable."

Jasmine scored miserably there.

To download a copy of the Appellate Division's decision, please use this link: Letter Grade, Inc. v. Jasmine Technologies, Inc.