Dispute relating to loan agreement requires full plenary hearing

Practice and procedure – contract law – appeal of High Court refusal to strike out proceedings on the grounds that the plaintiff’s statement of claim disclosed no reasonable cause of action and/or on the grounds that the plaintiff’s claim was frivolous and/or vexatious – O. 19, r. 28 of the Rules of the Superior Courts 1986 – whether there was an enforceable contract between the parties – s.2 of the Statute of Frauds (Ireland) Act 1695 – whether the High Court judge erred in refusing to strike out the proceedings pursuant to the inherent jurisdiction of the Court as being frivolous, vexatious and bound to fail owing to alleged non-compliance with s.2 of the Statute of Frauds – essential nature of the arrangement on foot of which the sum of €2.2 million was advanced to Yolanda was that it was a loan agreement – Yolanda has demonstrated that s. 2 of the Statute of Frauds was engaged in principle – possibility of relying on part performance is to be confined to only those cases where the contract is capable of specific performance – High Court was correct not to strike out the proceedings as being bound to fail – appeal dismissed.