Morris Cohon & Company v. Sidney A. Russell

Summary

The New York Court of Appeals reversed the Appellate Division, holding that the clause in the stock sale contract constitutes a sufficient written memorandum under the Statute of Frauds to create an implied obligation to pay broker commission, allowing recovery in quantum meruit. The Court rejected the dissent's view that the clause was merely a negative warranty and affirmed that the plaintiff performed services and is entitled to reasonable compensation.