STRASSER v. PRUDENTIAL SEC., INC.


218 A.D.2d 526 (1995)

630 N.Y.S.2d 80

Edward M. Strasser et al., Appellants, v. Prudential Securities, Inc., et al., Respondents, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, First Department.

August 10, 1995


The cause of action for breach of contract was properly dismissed as barred by the Statute of Frauds. According to plaintiff, Prudential had an obligation to extend it financial assistance "whenever help was required" with "no time constraint". Only plaintiff had the ability to terminate the alleged contract by its unilateral exercise of a power to cancel upon a breach by Prudential. Agreements that are terminable within one year...

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