Client Alert: Delaware Chancery Court Holds Provision in Oral LLC Agreement Unenforceable Under Statute of Frauds

Client Alert: Delaware Chancery Court Holds Provision in Oral LLC Agreement Unenforceable Under Statute of Frauds

Dec 19, 2008

Article

Brownstein Client Alert, December 19, 2008

The Delaware Chancery Court's recent decision in Olson v. Halvorsen, provides an important reminder to members of Delaware limited liability companies ("LLC(s)") that the Delaware statute of frauds applies to oral LLC agreements even though the Delaware Limited Liability Company Act explicitly allows oral LLC agreements.

Click to read more on this case and how if effects LLC agreements in Delaware.

Meet The Team

Kevin A. Cudney Shareholder T 303.223.1166 kcudney@bhfs.com
Rikard D. Lundberg Shareholder T 303.223.1232 rlundberg@bhfs.com