S. W. Straus & Co. v. Felson

The question involved herein is whether the first cause of action set forth in the second amended complaint is enforcible under the Statute of Frauds. By said cause of action it is alleged as follows:

“ I. That on or about the fourth day of August, 1924, in the City of New York, plaintiff and defendants entered into an agreement whereby it was mutually agreed that plaintiff should make a loan of eight hundred thousand dollars ($800,000) to a corporation then organized, or thereafter to be organized, and that defendants should cause said corporation to take said loan, the proceeds thereof to be…