Practice point: Under an exception to the statute of frauds, the promise need not be in writing if it is supported by new consideration, and the parties intend the promisor to be a principal debtor and primarily liable.
Students should note that, under the doctrine of tortious misrepresentation, if a person knowingly and falsely claims to have power to bind another, he is liable for losses resulting from justifiable reliance on the claim.
Case: DePetris & Bachrach, LLP v. Srour, NY Slip Op 01840 (1st Dept. 2010)
The opinion is here.
Monday's issue: Motion practice.
