![]() |
![]() |
Free Books / Real Estate / American Law Of Real Estate Agency / | ![]() |
|
![]() |
||||
![]() |
![]() |
|||
![]() |
![]() |
|||
![]() |
||||
|
|
||||
![]() |
![]() |
|||
![]() |
Sec. 45. Condition Precedent To The Contract Of Sale Taking Effect |
![]() |
||
![]() |
||||
![]() |
![]() |
![]() |
||
![]() |
||||
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 vendor may, if he is doubtful of the proposed vendee's ability to carry out his contract of purchase, accept the contract conditionally, and agree to sell, provided the purchaser proves able to perform its conditions. Flynn v. Jordal, 124 Iowa, 457, 100 N. W. 326. See also Secs. 54, 65, 182.
An agreement providing for the sale and purchase of real estate, which stipulates that the contract shall be made at a specified time and place, that the commission to be paid to the broker for procuring the purchaser shall be paid on "closing of title," fixes the time when the commission shall be payable; but the actual closing of the title is not a condition precedent to a recovery of the commission, and the broker, on the owner refusing to complete the sale, may recover his commission. Meltzer v. Strauss, 113 N. Y. S. 583, 61 Misc. 250.
Where a principal, after hiring a broker to effect a loan, refused to accept it after it was arranged, the broker was excused from bringing the intending lender into the principal's presence, or furnishing him with the lender's name, as a condition precedent to his right to compensation. Morrison v. Tuska, 113 N. Y. S. 611.
While, as a general rule, a broker employed by the owner of real estate to sell it becomes entitled to a reasonable compensation when, through his services, such real estate is sold, where the contract contains conditions the broker must comply therewith. Mabry v. Bailey & Howard, 59 S. 322, 5 Ala. App. 383.
Where in an action for commissions the evidence showed that the owner had not accepted the purchaser absolutely, but only upon condition that the purchaser should give certain security, the broker had not negotiated a sale and was not entitled to recover. Clark v. Bonner, 104 N. E. 494, 217 Mass. 201.
 
Continue to:
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
![]() |
|
|