Pepe v. Shepherd

The sole bases upon which the trial court entered summary judgment for the defendants-appellees were (1) its conclusion that an assignment of a portion of a promissory note is enforceable against the obligors only if the obligors consent in writing and (2) the related but separate conclusion that the ob-ligors’ oral consent, if any, to the splitting of the indebtedness is barred by the statute of frauds.

First, it is axiomatic that no agreement need be in writing unless required by statute or contract. Here there was no contract between the parties that required that a partial assignment of…