US News: The court has given a surprising verdict in a 21 year old case in Los Angeles, America. The court has considered the oral contract equal to the written contract. The court has ordered an Indian-origin businessman to pay an amount of Rs 2,000 crore as compensation to his four brothers. The court has also ordered to give share in 17 thousand apartments located in Southern California. This also includes the diamond dispute. According to Bloomberg’s report, this decision has come in a 21-year-old land dispute, in which an Indian-origin businessman named Haresh Jogani was given movable and immovable property to his four brothers. Will have to give share in the property. According to the report, many judges and many lawyers changed in this case. After many decisions in the case, 18 appeals were made, but now finally the court has given its verdict considering the oral contract as equal to the written contract.
Jogani brothers earned a lot of money
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According to the report, Jogani brothers, natives of Gujarat, earned a lot of money by trading diamonds in Europe, Africa, North America and the Middle East. According to the complaint filed in 2003, Shashikant Jogani moved to California in 1969 and started his own firm in the gem business and property portfolio.
When the properties suffered losses due to the recession in the early 1990s, , then Shashikant Jogani brought his 4 brothers with him and made them his staunch partners. Shashikant Jogani alleged that after the business improved, a brother named Haresh Jogani ‘forcibly removed’ all his brothers from the firm and refused to pay them.
Court. According to Shashikant Jogani’s complaint, this happened when the firm started a buying spree and built about 17,000 apartments in California. In this case, Haresh Jogani had argued that without a written agreement, his brothers cannot prove that he had a contract with them. But the Los Angeles court found that Haresh had breached the oral contract. The court acknowledged that oral agreements already exist in both the diamond trade and the Gujarati community.
According to Bloomberg, Shashikant Jogani’s lawyer said that the law says that anyone can make an oral contract. , which is as valuable as written agreements.