Does a limited partner of a real estate syndicate have the capacity to bring a representative cause of action?
"New York", United States of America
The following excerpt is from Riviera Congress Associates v. Yassky, 18 N.Y.2d 540, 223 N.E.2d 876, 277 N.Y.S.2d 386 (N.Y. 1966):
This litigation, like Lichtyger v. Franchard Corp., 18 N.Y.2d 528, 277 N.Y.S.2d 377, 223 N.E.2d 869, also decided today, raises the question whether some of the limited partners of a partnership comprising a real estate syndicate have the capacity to bring a representative cause of action--either on behalf of the other limited partners or on behalf of the partnership--and, if they do, whether they are entitled to summary judgment.
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