Steinberg v. Brickell Station Towers Inc.

J. Kenneth Kinsella, a real estate developer, and Peter Wenzel wanted to buy a piece of property for later development. Wenzel and Kinsella, however, did not have the necessary capital to develop the property. Consequently, Kinsella contacted Paul Steinberg since he had contacts with Japanese Development & Construction Co., Ltd. [JDC], a Japanese company that was interested in developing property in South Florida.

Kinsella and Wenzel met with Steinberg and agreed that if Steinberg would find a joint partner who would provide the financing to develop the project, they would give Steinberg a…