Boylan v. G. L. Morrow Co.

Main and Levine, JJ.,

concur in part and dissent in part in the following memorandum by Levine, J. Levine, J. (concurring in part and dissenting in part). Under the applicable Statute of Frauds for a sale of securities, this admittedly oral agreement to convey to plaintiff a 10% interest in the corporate defendant “is not enforceable by way of action or defense” (Uniform Commercial Code, § 8-319; emphasis added). Whether plaintiff’s alleged services are claimed to fall under the statutory exemption of “payment” (Uniform Commercial Code, § 8-319, subd [b]) or the common-law exception of part…