Lawsuit for ''lost Future Profits'' in New York
In American List Corp. v. U.S. News & World Report, 75 NY2d 38, 42, 549 N.E.2d 1161, 550 N.Y.S.2d 590 (1989), the defendant magazine agreed to rent, over a 10-year period, mailing lists of names of college students to be compiled by the plaintiff.
The magazine agreed to finance the plaintiff's start-up costs by paying a larger fee per name in the first five years.
A schedule of the estimated number of names to be provided and the fees to be paid by the defendant was appended to the contract. The magazine repudiated the contract after about a year and a half.
The trial court awarded the plaintiff the balance due on the contract for the remaining 10-year term, reduced to its present value.
The Court of Appeals rejected the magazine's argument that the trial court improperly awarded the plaintiff "lost future profits," holding that the plaintiff only sought to recover "moneys which defendant undertook to pay under the contract." (75 NY2d at 43.)