The plaintiff, a former executive at a property development company, claimed a 5% interest in the profit from the sale of a real estate development project.
The defendant argued the oral agreement was too uncertain to be enforceable and that any such interest was extinguished by a full and final release signed upon the plaintiff's termination.
The Superior Court of Justice found that the agreement was sufficiently certain and that the release, when read with the incorporated settlement correspondence, preserved the plaintiff's 5% interest.
The court awarded the plaintiff $1,372,992 in damages based on his expert's calculation of the profit from the sale of the lands.
