A New York appellate panel has ruled that the statute of frauds is "generally inapplicable" to agreements to create a joint venture, and that an alleged oral compensation agreement is capable of being performed in one year for purposes of the statute. Reversing a lower court decision, the panel allowed a business consultant to proceed with his suit alleging that he entered a joint venture with hedge fund management company principals who later fired him and reneged on an oral compensation agreement.
August 02, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The statute of frauds is “generally inapplicable” to agreements to create a joint venture, a Manhattan appellate panel in New York has ruled.
Further, the panel determined that an alleged oral compensation agreement was capable of being performed in one year no matter how “unlikely or improbable” its completion.
Presented by BigVoodoo
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation.
A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
