Byblos Corp. v. Salem Farm Realty Trust

Defendant Salem Farm Realty Trust (Salem Farm) appeals the Superior Court’s (Coffey, J.) ruling enforcing an oral settlement agreement involving the transfer of a leasehold interest. We conclude that the settlement is subject to the statute of frauds, RSA 506:1 (1983), and accordingly reverse and remand.

I

Salem Farm leases a small building on a tract of land owned by a third party. The plaintiff, the Byblos Corporation, is Salem Farm’s sublessee and runs a take-out food business on the premises. The owner of the land and building operates a large retail electronics store on the site. Prior to…