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CALIFORNIA CORPORATE & SECURITIES LAW

Applying The Statute Of Frauds To “Et Al.”

Charles II, aka the “Merry Monarch”, was sitting on the English throne when the original Statute of Frauds was enacted in 1677.  Therefore, one should be forgiven for the mistaken presumption that all questions involving the application of the statute have been raised and duly answered.  Just yesterday, in fact, the California Court of Appeal addressed the apparently…

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Legislature Enacts “5 Second Rule” For Electronic Contracts To Sell Real Property

The Statute of Frauds has been a part of Anglo-American jurisprudence for centuries.  It made its first appearance in the wake of the English Civil War (yes, they had one too but for very different reasons) when King Charles II decided that it was time to crack down on “fraudulent practices which are commonly endeavoured to be upheld by…

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Lost Writings And The Statute Of Frauds

In 1677, the English Parliament enacted a law establishing a legal principle that was eventually adopted by all of the future states of its nascent colonies – the Statute of Frauds. Nevada has adopted this same principle in NRS 111.205(1): No estate or interest in lands, other than for leases for a term not exceeding…

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Court Of Appeal Upholds Unsigned Stock Option Agreement

In an opinion handed down yesterday, the Fourth District Court of Appeal upheld an “oral” stock option agreement.  Maughan v. Correia, Cal. Ct. of Appeal Case No. D058957 (Oct. 24, 2012).  The case arose from a fight between a brother and sister over ownership in a family run corporation.  The sister had sued her brother to enforce…

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