Insurers' Contract With ACE Not Valid: Ohio High Court

Law360, New York (May 7, 2009, 12:00 AM EDT) -- The Supreme Court of Ohio has found that three title insurance companies may not bring fiduciary duty and breach of contract-related claims against ACE Capital Title Reinsurance Co. in a suit claiming the reinsurer reneged on a joint-venture agreement to create a new title insurance entity.

With two judges dissenting, the state Supreme Court majority ruled Thursday that the the agreement between ACE and Sutton Land Services LLC, Title First Agency Inc. and Title Midwest Inc. did not comply with the statute of frauds and is...
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