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Free Books / Real Estate / American Law Of Real Estate Agency / | ![]() |
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Sec. 1115. Construction Of Broker's Contract For Commissions |
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This section is from the book "American Law Of Real Estate Agency", by William Slee Walker. Also available from Amazon: American law of real estate agency.
Defendants, who had platted a subdivision, contracted with plaintiff for the sale of the lots, giving him the exclusive right of sale for six months. Plaintiff was to exercise reasonable diligence to sell the property within the time specified. Defendants were to receive the proceeds until they amounted to $2,300, after which the proceeds were to be divided with plaintiff as compensation for his services; and if there should be any unsold lots, after defendants had received $2,300, an undivided quarter interest was to be conveyed to plaintiff. Held, that the provision requiring the defendants to convey a part of the unsold lots, being only a part of the consideration, was independent of the provision requiring the plaintiff to exercise reasonable diligence to sell all the lots, and upon selling $2,300 worth of lots, he was entitled to the share of the proceeds of subsequent sales within the contract period, and also to a conveyance of a one-fourth interest in the unsold lots. Mitchell v. Bushing (Tex. Civ. App. '09), 118 S. W. 582.
 
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