Olympic Holding Co., L.L.C. v. ACE Ltd.

*90Lundberg Stratton, J.

I. Introduction

{¶ 1} The primary question before the court is whether the breach of a promise to execute an agreement justifies using promissory estoppel to remove the agreement from the statute of frauds. Ancillary to this question is whether a joint agreement can impose fiduciary duties absent compliance with the statute of frauds. We answer both questions in the negative. Accordingly, we reverse the judgment of the court of appeals.

II. Facts

{¶ 2} Appellant, ACE Capital Title Reinsurance Company (“ACE”), is a title reinsurance company located in New York. ACE is owned…