Question
Samuel DaGrossa and others were planning to open a restaurant. At some pointprior to August 2015, DaGrossa orally agreed with Philippe LaJaunie thatLaJanunie, in exchange
Samuel DaGrossa and others were planning to open a restaurant. At some pointprior to August 2015, DaGrossa orally agreed with Philippe LaJaunie thatLaJanunie, in exchange for his contribution in designing, renovating, and managingthe restaurant, "could purchase a one-third interest in the restaurant's stock if therestaurant was profitable in its first year of operation". The restaurant opened inMarch 2016, and a few weeks later, LaJaunie's employment was terminated.LaJaunie brought an action to enforce the stock-purchase agreement.
Explain fullywhether this oral agreement is enforceable under the Statute of Frauds?
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