Bonchonsky & Zaino LLP

Bonchonsky & Zaino LLP Debt Collection Lawyers

Bonchonsky & Zaino LLP is a debt collection law firm located at 226 Seventh Street, Suite 200, Garden City, New York 11530, Tel: 516-747-1400.

Bonchonsky & Zaino has frequently represented JP Morgan Chase Bank, N.A. in defaulted credit account litigation.

In the matter of Davy v. JP Morgan Chase & Co, et al [1], commenced in the Kings County Supreme Court, the Appellate Division, Second Department, reversed the Supreme Court Justice and dismissed the Plaintiff’s complaint.

The borrower had sued JP Morgan Chase bank alleging causes of action for breach of contract and unjust enrichment in the credit extension process.

To state a claim for breach of a credit agreement [2], the borrower must establish:

  1. Formation of a contract between the borrower and lender
  2. Performance under the contract by the borrower
  3. Lender’s failure to comply with the contract
  4. Damages sustained by the borrower as a result of the lender’s non-compliance

JP Morgan Chase established the borrower failed to provide proof he had obtained the insurance policy required by the credit agreement, and accordingly the Appellate Division determined the borrower was unable to state a cause of action for breach of contract.

The borrower had alleged Chase Bank unjust enrichment entitled the borrower to money damages.

To state a claim for unjust enrichment [3], the borrower must establish:

  1. The Lender was enriched
  2. At the borrower’s expense
  3. Equity and good conscience require the lender to make restitution to the borrower

The Appellate Division determined the lender was not enriched at the borrower’s expense and accordingly disposed of the claim.

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[1] 2014 NY Slip Op 08804

[2] JP Morgan Chase v J.H. Elec. of N.Y., Inc., 69 AD3d 802

[3] Mandarin Trading Ltd. v Wildenstein, 16 NY3d 173