Ellig v. Molina
United States District Court for the Southern District of New York
996 F. Supp. 2d 236 (2014)
Molina (defendant) orally guaranteed the Elligs (plaintiffs) he would buy back a diamond ring for 10 percent above its $600,000-plus purchase price if they were unhappy with it, and after they exercised that guarantee within the one-year window, Molina's confirming letter added a new condition -- that he first needed to resell the diamond before repaying them -- that was never part of the original oral agreement and that the Elligs never accepted; when Molina refused to buy back the ring without first reselling it, the Elligs sued for breach, and Molina raised the statute of frauds as a defense.
Whether a written letter from one party to another that sets forth the essential terms of an oral agreement between the parties satisfies the writing requirement of the statute of frauds.