Does a joint venture need an oral agreement regarding real property?

Such an exception exists for joint ventures, where an oral agreement regarding real property may be enforced. (Kaljian v. Menezes, supra, 36 Cal.App.4th at pp. 583-586.) Where the parties agree to purchase real property for their joint account, but one person takes title to the property in his or her own name, the agreement will be enforced on the theory that the existence of the joint venture places the parties in a confidential relationship. (Id. at pp. 583-584.) By violating fiduciary duties, "the offending party constituted himself a constructive trustee for the benefit of the other [party]. [Citation.]" (Ibid.)

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"'A joint venture exists where there is an "agreement between the parties under which they have a community of interest, that is, a joint interest, in a common business undertaking, an understanding as to the sharing of profits and losses, and a right of joint control."' [Citations.]" (Simmons v. Ware (2013) 213 Cal.App.4th 1035, 1053.) "'A joint venture can be formed by a written or an oral agreement or by an agreement implied by the parties' conduct.'" (Id at p. 1052.) However, while a joint venture "can be created with little formality" there must still be an agreement based upon a "meeting of the minds as to the essential structure and operation of the alleged joint venture[.]" (Bustamante v. Intuit, Inc. (2006) 141 Cal.App.4th 199, 215.)

"There are three basic elements of a joint venture: the members must have joint control over the venture (even though they may delegate it), they must share the profits of the undertaking, and the members must each have an ownership interest in the enterprise. [Citation.]" (Orosco v. Sun-Diamond Corp. (1997) 51 Cal.App.4th 1659, 1666.) The right of joint participation in the management and control of the business is an essential element of a partnership or joint venture. (Simmons v. Ware, supra, 213 Cal.App.4th at p. 1056.) "'"Absent such right, the mere fact that one party is to receive benefits in consideration of services rendered or for capital contribution does not, as a matter of law, make him a partner or joint venturer. [Citations.]"' [Citations.]" (Ibid., quoting Kaljian v. Menezes, supra, 36 Cal.App.4th at p. 586.)