(DOWNLOAD) "Soviet Import Export Inc. v. General Tire International Co." by Sixth Circuit. United States Court Of Appeals * eBook PDF Kindle ePub Free
eBook details
- Title: Soviet Import Export Inc. v. General Tire International Co.
- Author : Sixth Circuit. United States Court Of Appeals
- Release Date : January 02, 1978
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
The plaintiff appeals from summary judgment entered in favor of the defendant in this action to recover a ""finder's fee."" In granting summary judgment the district court assumed the existence of an oral contract for the payment of a fee of 5% For the services of the plaintiff. The court found, on the basis of depositions and other evidence, that the oral contract was made in New York and held that the law of that jurisdiction governs the validity of the contract. This was a correct application of the conflict of laws rule of Ohio in this diversity case. See Arsham v. Banci, 511 F.2d 1108, 1114 (6th Cir. 1975). Applying the law of New York to determine the validity of the contract the district court concluded that the New York Statute of Frauds (General Obligations Law, ร§ 5-701(a)(10))1 renders the oral contract void in the absence of a sufficient memorandum in writing. On appeal the plaintiff contends that ร§ 5-701(a)(10) does not apply to its contract with the defendant. Its primary argument is that the statute only applies to contracts for the purchase or sale of the majority interest in a business and that no such transaction was involved here. The contract in question concerned Soviet Import Export's efforts to bring about General Tire's participation in the construction of a radial tire factory in Romania.
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