Alexakis v. Mallios

In this appeal, we consider whether a settlement agreement recited in open court was valid and binding upon all parties.

Kostas Alexakis filed an amended motion for judgment against Dimitri P. Mallios, Executor of the Estate of Raymond A. Giovannoni (the Estate), American Grill Enterprises, Inc. (AGE), and others, seeking, inter alia, specific performance of an alleged contract for the purchase of certain property from the Estate. The property consisted of real property and a lease for the operation of a restaurant. Both Alexakis and AGE had engaged in negotiations with Mallios to purchase the…