The defendants brought a motion for summary judgment dismissing an action claiming a 50 percent ownership interest in real property and in a corporation based on an alleged oral joint venture agreement.
The plaintiffs argued that the agreement arose through oral discussions and email communications relating to a real estate acquisition.
The court held that even assuming a joint venture agreement existed, the claim was commenced outside the two‑year limitation period under the Limitations Act, 2002.
Evidence showed the plaintiffs were aware by late 2008 that the alleged agreement was not being honoured.
As the claim was issued in February 2011, it was statute‑barred and the action was dismissed on summary judgment.
