1 Elements and Case CitationsA joint venture is formed under New York law when:
- two or more persons enter into an agreement to carry on a venture for profit;
- the agreement evinces their intent to be joint venturers;
- each contributes property, financing, skill, knowledge, or effort;
- each has some degree of joint control over the venture; and
- provision is made for the sharing of both profits and losses.
- The rest of the elements for this cause of action;
- The citations to the most recent state and federal court cases citing the cause of action;
- The statute of limitations; and
- The defenses to this cause of action.
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