DePaepe v. Malito

NEUMAN, Justice.

This appeal concerns plaintiff Joseph De-Paepe’s unsuccessful attempt to acquire the stock in GBM, Inc., an Iowa corporation owned ninety percent by defendant George Malito, and ten percent by defendant William Malito. DePaepe claims the district court erred when it found no meeting of the minds concerning what DePaepe alleges was an oral contract. The defendants rest their defense on the statute of frauds. We affirm.

I. Background Facts and Proceedings.

This controversy stems from plaintiff Joseph DePaepe’s interest in acquiring a Shell gas station at the intersection of Brady…