Baron v. Schachter

This is a motion to dismiss the complaint on the ground that it is barred by the Statute of Frauds. We are not called on to determine at this time whether plaintiff may be frustrated by the parol evidence rule when he attempts to prove the facts he has alleged.

The plaintiff is, in effect, asserting a rescission of the original bargain in accordance with an option for repurchase of the stock. The agreement is alleged to be part of the original transaction, and as such does not constitute a new and independent contract for repurchase following upon an executed sale of the stock. The original…