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Sec. 164. Where Pieces Of Property Are Given For Others And The Difference Paid In Cash, A Sale And Not An Exchange |
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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.
A transaction by which certain pieces of property are given for others, a definite price being put on each, and the difference paid in cash, is a sale and not an exchange. Thornton v. Moody (Tev. Civ. App. '93), 24 S. W. 331; Ullman v. Land, 84 S. W. 294, 37 Tex. Civ. App. 422.
To constitute an exchange, the value of the estates should be equal. Bouvier, L. D., citing Coke-Litt. 50.
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agent, real estate agency, brokerage, commissions, compensation, contracts, duties, exchanges, exclusive contracts, forms, interpretations, judicial constructions, leases, liabilities of principal, listing, loans, options, contracts, pleadings, practice, law, rights, sales
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