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 broker employed to secure an exchange of land for a stock of merchandise earns his commissions, when the owner of the stock and the owner of the land procured by the broker agree on the terms of exchange, the owner of the stock having the right to reject the proposition for exchange, if acting in good faith. Davidson v. Wills (Tex. Civ. App. '06), 96 S. W. 634; Perry v. Edelen, 164 S. W. 645, 181 Mo. App. 498; Scarborough v. Darnell & Stagner, 171 S. W. 1049, - Tex. Civ. App. -; Micek v. Wamka, 161 N. W. 467, 165 Wis. 97.
Where broker employed to bring about an exchange of property brought the parties together, and they agreed on an exchange, assent of broker to exchange on understanding that he would receive no commission; held, not to prevent recovery of commissions, as he could not be deprived thereof, even with his consent, without consideration. Connor v. Munsees, 145 N. Y. Sup. 891.
Where a contract for exchange of property contained an agreement to pay broker's commission, as previously agreed upon, was negotiated and prepared by the brokers, who had it signed by one party, and sent by the brokers to the other party, with a letter stating that if the offer was accepted he would be required to pay a stated commission; the contract speaks from the time it was signed by him, and not from its date, and, in the absence of any other agreement for commissions, his acceptance of that proposed is presumed. Davidson v. Prague, 263 F. 876.
 
Continue to: