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Free Books / Real Estate / American Law Of Real Estate Agency / | ![]() |
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Sec. 47. Approval Of Principal |
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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.
One employed to sell land at an agreed price and who receives in part payment land of a certain character within a specified locality, can not recover commissions where the owner refuses to consummate the trade, if the contract of employment provided that the sale should be subject to the owner's approval. Coin v. Hess, 102 Iowa, 140, 71 N. W. 218; Denis v. Tilton, 120 La. 226, 45 S. 112; Slayback v. Wetzel (Mo. App. '09), 123 S. W. 598; Jenson v. Belson, 205 I11. App. 295.
If a broker employed to purchase an estate buys it for himself, it is necessary, in order to unfold the transaction and render him liable to account, that the agency of the broker for the principal be approved. Lazarus v. Sands, 33 N. Y. S. 855, 12 Misc. 575, 27 N. Y. S. 885, 7 Misc. 282. Where the contract of sale was to be approved by the owner, an instruction that plaintiff was entitled to commissions if he found a purchaser, though defendant refused to carry out the trade, was erroneous. Goin v. Hess, 102 Iowa, 140, 71 N. W. 218.
 
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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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