Contrary to the parties' contentions, these documents do not conclusively resolve the factual issues they have raised. Defendants' reliance on the bill of sale disclaimer provision is misplaced. The purpose of such disclaimer provisions is to protect the seller of an equipment lease from liability arising out of the actual condition and value of the equipment, given the fact that the equipment has been outside the seller's possession for some period of time prior to the sale of the lease. However, such provisions cannot be interpreted as shielding the seller from liability for fraudulently representing the existence of equipment and, therefore, the value of the lease to be transferred. Defendants next contend that the third cause of action for fraudulently inducing plaintiffs to pay off the consolidated mortgage debt must be dismissed on the ground that plaintiffs have failed to sufficiently particularize the circumstances constituting the alleged fraud.
Summary judgment is denied.
New York City Tr. As discussed above, the documentary evidence may be held to support the allegations regarding the number of items of equipment. In any event, defendants can obtain further specific details in the course of discovery. Defendants last seek summary judgment dismissing the fourth cause of action to correct a mutual mistake in the amount paid by plaintiffs to satisfy the consolidated mortgages. Summary judgment dismissing the fourth cause of action without prejudice is granted.