Jones v. Patrick

Citations

• 140 F. 403
• 1905 U.S. App. LEXIS 4798

Syllabus

<p>1. Statute of Peauds — Contracts Within — Agreement to Share Profits of Real Estate Speculation. .</p> <p>It is not essential to the validity of an agreement made by parties to share in the profits óf a contemplated speculation in real estate that it should be in writing; such agreement not involving an estate or interest in real estate within the statute of frauds.</p> <p>2. Same — Statute as Defense — Executed Contract.</p> <p>Complainant and defendant entered into a verbal agreement to cooperate in endeavoring to find a purchaser at an advanced price for certain mining property on which- defendant held an option bond and to share in whatever profit was realized. A sale was made, and defendant obtained as profit an interest in the property. Held, that such contract was not one for the sale of an interest in lands within the statute of frauds of Nevada (Cutting’s Comp. Laws Nev. §§ 2694, 2696), and in any event, having been fully executed, except as to the division of profits, the statute could not be invoked to defeat a recovery by complainant of his share of the property so obtained by defendant, where the bill alleged that complainant rendered services and paid expenses in procuring the sale, and fully performed the agreement on his part.</p>