The Appellate Division modified the order and dismissed the claim, which alleges that defendants agreed to compensate plaintiffs with equity over the course of a 10-year period. The cause of action is barred by the statute of frauds, pursuant to General Obligations Law § 5-701[a][1], and the allegations, which relate to the breach of an oral agreement, are not a proper basis for a quantum meruit/quasi contract claim.
Razzak v. Juno, Inc., NY Slip Op 03153 (1st Dep't May 18, 2021)
