Beach to Bay Real Estate Center LLC v. Beach to Bay Realtors Inc.

This dispute arose from the winding-down of a limited liability company formed as a real estate sales venture between two realtors. The Delaware Court of Chancery granted in part and denied in part defendants' partial motion to dismiss. The court dismissed with respect to the breach of fiduciary duty count because non-conclusory allegations in support of a relationship creating such a duty were lacking on the face of the complaint; denied the motion to dismiss with respect to the breach of an implied contract/estoppel claim because promissory estoppel was adequately alleged; and dismissed with respect to the constructive trust claim because it was waived. View "Beach to Bay Real Estate Center LLC v. Beach to Bay Realtors Inc." on Justia Law