Delaware Court Enforces Some Terms of Unsigned LLC Agreement

Delaware Court Enforces Some Terms of Unsigned LLC Agreement
Martin J. Doyle, Author; et al.
The Legal Intelligencer

This article, co-written by Martin J. Doyle, a Partner in the Real Estate Practice Group, examines Olson v. Halvorsen C.A., a case heard in Delaware Chancery Court that addressed the conflict regarding oral operating agreements, arising under the Delaware Limited Liability Company Act and Delaware's statute of frauds. The Court relied on the Delaware statute of frauds to bifurcate an unsigned operating agreement, holding that certain aspects were unenforceable while other aspects would be enforced.