Blasingame v. American Materials, Inc.

OPINION

FONES, Chief Justice.

We granted defendant corporation’s Rule 11 application to review a judgment awarding plaintiff $429,000 for fraudulent breach of an oral employment contract, affirmed by the Court of Appeals. Briefly, the issues in this Court are the application of the general Statute of Frauds, the authority of the president and dominant person in the corporation to bind the corporation to an employment contract agreeing to sell a key employee a one-quarter stock interest in the corporation, the application of the Statute of Frauds of the investment securities chapter of the UCC,…