Morris Cohon & Co. v. Russell

This action is brought to recover in quantum meruit for the alleged services rendered by plaintiff as a broker or finder in procuring a purchaser for defendant’s stockholdings in a certain close corporation. The plaintiff alleges it is a dealer in securities and does not claim to be a duly licensed real estate broker. The defendant has interposed the Statute of Frauds as *223a defense and appeals from an order which denied his motion for summary judgment.

The applicable statute is section 5-701 of the General Obligations Law, which now reads as follows:

“ Every agreement, promise or undertaking is…