Court of Appeals for the Seventh Circuit October 17, 2008, 07-3910 (Classic Cheesecake Co. v. JPMorgan Chase Bank, N.A.)

POSNER, Circuit Judge.

This appeal requires us to interpret a gloss that the Indiana courts have placed on their state’s statute of frauds: an oral agreement that the statute of frauds would otherwise render unenforceable creates a binding contract if failing to enforce the agreement would produce an “unjust and unconscionable injury and loss.” E.g.,

Bromi v. Branch,

758 N.E.2d 48, 52 (Ind. 2001).