On October 7, 2021, the First Department issued a decision in Vendome v. Oldenburg, 2021 NY Slip Op. 05409, holding that the statute of frauds barred a contract claim relating to the sale of real property, explaining:
Plaintiff’s argument that the LOI effectively amounted to an enforceable purchase agreement when it is considered in tandem with defendants’ post-LOI conduct also fails. The statute of frauds requires that contracts for the sale of real property be accompanied by a signed writing and that no contract for the sale of real property can be created when a material element of the contemplated bargain bas been left for further negotiations. Furthermore, the LOI was expressly conditioned upon the execution of a definitive contract of sale, which does not give rise to an enforceable purchase agreement.(Internal citations omitted).