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The Law Of Real Estate Brokers | by Fred L. Gross



A manual, with forms included, for the use of lawyers and real estate operators

TitleThe Law Of Real Estate Brokers
AuthorFred L. Gross
PublisherThe Ronald Press Company
Year1917
Copyright1917, The Ronald Press Company
AmazonThe law of real estate brokers

By Fred L. Gross, Of the New York Bar

The Law Of Real Estate Brokers 1
-Preface
In the course of a real estate practice extending over a number of years, the author has felt the need of some reasonably complete and conveniently arranged work on the law governing the transactions ...
-Part I. Powers, Authority And Rights Of Broker. Chapter I. Introductory
Sec. 1. Definition Of Real Estate Broker Real estate brokers are those who negotiate between the buyer and seller of real property, either finding a purchaser for one desirous to sell, or vice versa...
-Chapter II. Who May Act As Broker. License Requirements
Sec. 5. General Statement Any person may act as a broker, including minors and married women. (Sec. 6-8.) Partnerships and business corporations may likewise act as brokers. (Sec.9, 10.) In some loca...
-Who May Act As Broker. License Requirements. Continued
Sec. 8. Minors And so any person under legal age may act as a broker. At least, a minor acting as broker could recover any earned commission, for it is the minor only, or on his death his representat...
-Chapter III. Written And Oral Authority Of Broker
Sec. 12. General Statement Generally, the broker's authority to negotiate the sale or purchase of real estate, loans thereon, or the renting thereof, need not be in writing (Sec. 13-26), except that,...
-Written And Oral Authority Of Broker. Part 2
Sec. 15. New York; Authority To Negotiate Loan With respect to a broker's authority to negotiate a loan in New York, a statute similar to that mentioned in the preceding section was also found in Cha...
-Written And Oral Authority Of Broker. Part 3
Sec. 19. Missouri; Authority To Negotiate Loan With respect to negotiating a loan, the Missouri statute provides: In cities of 300,000 inhabitants or more, any person who shall make application to ...
-Written And Oral Authority Of Broker. Part 4
Sec. 24. Statute Of Frauds As Affecting Brokers Reference has already been made to the Statute of Frauds. To present the subject comprehensively and yet briefly, we quote from Clark on Contracts, p...
-Written And Oral Authority Of Broker. Part 5
Sec. 26. Classification Of Agreements Not To Be Performed Within A Year (a) Where No Time is Fixed. Where no time is fixed, either party may terminate the relation at any time, and as the law is tha...
-Chapter IV. Broker's Power To Sign Contract
Sec. 27. General Statement The mere employment of a broker as such only authorizes him to act as an intermediary to bring the parties together, and gives him no authority to sign a contract. But auth...
-Broker's Power To Sign Contract. Part 2
Sec. 30. Powers Conferred By Appointment As Agent It may be argued that the agent has power to sign a contract because the appointment of an agent, in general, carries with it all powers necessary, ...
-Broker's Power To Sign Contract. Part 3
Sec. 33. New Jersey Rule In New Jersey, the statute provides, that no action shall be brought * * upon any contract or sale of lands, tenements or hereditaments, or any interest in or concerning th...
-Broker's Power To Sign Contract. Part 4
Sec. 38. When Broker Has Authority To Sign Contract The ordinary authority of a real estate broker deputed to sell real estate is simply to find a purchaser, and he has no power to bind his principal...
-Broker's Power To Sign Contract. Part 5
Sec. 41. Dissenting Opinions As To Incidental Power To Contract In the dissenting opinion in Beattie v. Burt, 122 App. Div. 473 (N. Y. 1907), it was said, though that was not the real point decided, ...
-Broker's Power To Sign Contract. Part 6
Sec. 43. Liability Of Agent For Signing Unauthorized Contract The liability of an agent for signing a contract which he had no authority to sign is considered in detail in a later chapter.33 Sec. 44...
-Chapter V. Broker Acting For Both Parties
Sec. 47. General Statement A broker cannot, at the same time and in the same transaction, be acting for both parties (Sec. 48-50), except: (1) Where both parties know that the broker is so acting. (...
-Broker Acting For Both Parties. Part 2
Sec. 50. Acting For Both Parties Constitutes A Fraud Where a broker, ascertaining that a person desires to sell or exchange his property, calls upon him and is directed to see what he can do, and the...
-Broker Acting For Both Parties. Part 3
Sec. 53. Acting For Both Parties Not Unlawful In Itself It is not per se unlawful for one to act as the broker for the buyer and seller without disclosing the fact. The broker may be a mere middlema...
-Broker Acting For Both Parties. Part 4
Sec. 56. General Rule As To Discretion It is undeniable that where the broker or agent is invested with the least discretion, or where the party has the right to rely on the broker for the benefit o...
-Broker Acting For Both Parties. Part 5
Sec. 58. How Question Of Double Employment Is Raised Where the principal desires to avail himself of the fact that the broker accepted or agreed to accept commissions from both sides, he must plead i...
-Chapter VI. Broker's Right To Interest In Profits
Sec. 59. General Statement Neither an agent, nor those in his employ, may be interested in the profit of a sale to or purchase from his principal without the clear assent of the principal. (Sec. 60-6...
-Broker's Right To Interest In Profits. Part 2
Sec. 61. Agent Must Not Be Personally Interested It is established by the authority of elementary writers and by a long course of decisions that a person employed as an agent in any respect cannot b...
-Broker's Right To Interest In Profits. Part 3
Sec. 63. Agent May Not Make Secret Profits A real estate broker who receives a price in excess of that reported and accounted for to his principal is liable to the principal for the difference.10 And...
-Broker's Right To Interest In Profits. Part 4
Sec. 65. Rule Not Affected By Agent's Honesty Of Purpose It is no answer to a complaint that brokers have acted for themselves in a transaction involving their principal, that their intention was hon...
-Broker's Right To Interest In Profits. Part 5
Sec. 68. Agent May Be Personally Interested With Consent Of Principal While the general rule that an agent cannot himself be interested in a deal holds, yet the agent may be personally interested the...
-Broker's Right To Interest In Profits. Part 6
Sec. 70. Broker May Not Lawfully Combine With Others To Secure Secret Profits Sometimes others combine with the broker in putting through a deal in which the broker is secretly to share in the profit...
-Chapter VII. General Authority Of Broker
Sec. 72. General Statement As a general rule the broker has no authority to sign a contract of sale for his employer. (Sec. 27.) A broker employed to sell property has no authority, as such, to rece...
-General Authority Of Broker. Part 2
Sec. 75. Renting Agents The ordinary agency to collect rents usually includes authority to rent, to receive rent money and receipt therefor in the name of the landlord; also to allow deductions from ...
-General Authority Of Broker. Part 3
Sec. 77. Agent's Right To Dispossess Tenants. New York Rule Section 2235 of the New York Code of Civil Procedure expressly authorizes the agent of the landlord to make application for the removal of ...
-Chapter VIII. Revocation Of Broker's Authority
Sec. 79. General Statement The relation of principal and agent, so far as real estate brokers are concerned, may be terminated in any of the following ways: (1) By mutual consent; (2) by performance ...
-Revocation Of Broker's Authority. Part 2
Sec. 83. Termination By Principal After Lapse Of Reasonable Time Where no time is fixed within which the broker must procure a purchaser, the principal may, after the lapse of a reasonable time,8 ter...
-Revocation Of Broker's Authority. Part 3
Sec. 84. Limitations On Principal's Power To Terminate Agency At Pleasure Some of the authorities cited in the preceding sections hold that the broker's authority may be revoked at any time by the pr...
-Revocation Of Broker's Authority. Part 4
Sec. 85. Revocation Of Agency By Principal Must Be In Good Faith A leading case 21 speaks generally of the right to terminate the contract of agency, in these words: Where no time for the continuanc...
-Revocation Of Broker's Authority. Part 5
Sec. 87. Termination Of Agency By Previous Sale A previous sale revokes the agent's authority,27 and no notice to the broker of the sale is necessary.28 A broker must produce his customer while the p...
-Revocation Of Broker's Authority. Part 6
Sec. 91. Termination By Insanity We are not now dealing with the legal status of a contract made by a person of unsound mind. We are assuming that two competent persons have entered into an agency an...
-Revocation Of Broker's Authority. Part 7
Sec. 92. Termination By Death Agency is terminated by the death of the principal.41 And the death of the agent, of course, terminates his agency. No notice of the death of the principal is necessary ...
-Part II. Commissions And Their Recovery. Chapter IX. General Rules As To Commissions
Sec. 95. General Statement A broker's commissions are earned when, having been employed, he has been the procuring cause of the sale. (Sec.96.) When several brokers are employed on the same property...
-Commissions And Their Recovery. Chapter IX. General Rules As To Commissions. Part 2
Sec. 97. Respective Rights Of Brokers When Several Are Employed The owner may employ as many brokers as he pleases,5 and he is liable for commissions only to the one who effects the sale. Hobbs v....
-General Rules As To Commissions. Part 3
Sec. 98. Rule As To Commissions When Several Brokers Are Employed The fact that a person is the first broker who calls the attention of the purchaser to the property, in itself, gives no claim to com...
-General Rules As To Commissions. Part 4
Sec. 99. Liability Of Principal For Commissions To Exclusive Agent A broker, employed to make a sale under an agreement for the exclusion of all other agencies, is entitled to his commissions when he...
-Chapter X. Broker Must Be Employed
Sec. 103. General Statement A mere volunteer who brings a customer is not entitled to commissions. (Sec. 104, 105.) To justify a recovery of commissions, there must be an employment of the broker, ei...
-Broker Must Be Employed. Part 2
Sec. 106. Employment Necessary To Recovery Of Commissions To justify a recovery there must be an employment of the broker either express or implied from the circumstances surrounding the transaction...
-Broker Must Be Employed. Part 3
Sec. 109. Ratification Equivalent To Original Employment Another way in which the relation of broker and principal may be created is by ratification. If the broker enters upon negotiations without au...
-Broker Must Be Employed. Part 4
Sec. 111. Ratification By Implication Where a party knows that the services were being offered by a broker who expected pay, the acceptance of the services by the principal implies an agreement for t...
-Chapter XI. Broker Must Be Procuring Cause Of Sale
Sec. 113. General Statement The broker must be the procuring cause of the sale. (Sec. 116-120.) Promises to pay commissions are not enforceable if there is no consideration to support them. (Sec. 1...
-Broker Must Be Procuring Cause Of Sale. Part 2
Sec. 116. Procuring Cause The undertaking of the broker is to make efforts to procure a purchaser, but if he fails he is entitled to no pay unless there is a special contract.12 A broker for the s...
-Broker Must Be Procuring Cause Of Sale. Part 3
Sec. 118. Procuring Cause As Affected By Special Contract A special contract supersedes the general rule as to commissions, and when such a contract exists the broker must, of course, comply with its...
-Broker Must Be Procuring Cause Of Sale. Part 4
Sec. 119. General Rule As To Procuring Cause. As will be noted, there is some conflict of opinion as to when the agent's commission is earned; in other words, as to when he is the procuring cause,...
-Broker Must Be Procuring Cause Of Sale. Part 5
Sec. 120. Procuring Cause When Representing Purchaser A broker engaged by a prospective purchaser to purchase property must, in order to entitle himself to a commission from the prospective purchas...
-Broker Must Be Procuring Cause Of Sale. Part 6
Sec. 123. Failure Through Fault Of Principal The broad statement that the broker when unsuccessful gains nothing from his labor and effort, must be taken with one important and necessary limitation....
-Broker Must Be Procuring Cause Of Sale. Part 7
Sec. 126. Presence Of Broker The broker need not of necessity be present and an active participator in the agreement of buyer and seller when that agreement is actually concluded.52 Brokers are to br...
-Broker Must Be Procuring Cause Of Sale. Part 8
Sec. 127. Introductions If, as a proximate result of the introduction of the purchaser to the owner by the agent, the owner makes the sale himself, either personally or by another agent, it will not ...
-Broker Must Be Procuring Cause Of Sale. Part 9
Sec. 129. Consummation Of Sale By Another Broker Where a broker opens negotiations for the sale of property and the proposed purchaser abandons the broker, the owner may sell to the same purchaser in...
-Broker Must Be Procuring Cause Of Sale. Part 10
Sec. 130. Consummation Of Sale By Principal Where the agent is the procuring cause, he is entitled to commissions even though the negotiations were conducted and concluded by the principal in person....
-Chapter XII. Sale Must Be On Employer's Terms
Sec. 131. General Statement The broker must produce a purchaser ready, willing and able to purchase on the principal's terms. (Sec. 132, 133.) But if he does not accomplish the precise thing which he...
-Sale Must Be On Employer's Terms. Part 2
Sec. 134. Acceptance By Owner Of Different Terms Where the broker does not accomplish the precise thing which he was employed to do, but what he did is accepted by the owner as being satisfactory, th...
-Sale Must Be On Employer's Terms. Part 3
Sec. 136. Requirements As To Price If a price is fixed, the broker must procure a purchaser at that price.22 And where the broker produces a purchaser at the price asked by the owner, the latter cann...
-Sale Must Be On Employer's Terms. Part 4
Sec. 138. Time Of Performance The broker must procure a purchaser during the term of his employment. Where no definite time is fixed the broker has a reasonable time in which to effect a sale.32 What...
-Chapter XIII. Broker Must Act In Good Faith
Sec. 140. General Statement The broker must act in good faith. (Sec. 141.) He may-forfeit his standing, - (1) By accepting pay from or acting for the other party. (Sec. 142.) (2) By himself becomin...
-Broker Must Act In Good Faith. Continued
Sec. 144. Broker Must Accept Largest Offer An agent to sell stands in the place of and represents the vendor and is therefore bound to discard every feeling of friendship toward a proposed buyer, to ...
-Chapter XIV. Availability Of Purchaser
Sec. 146. General Statement The broker must produce a purchaser who is ready, willing and able to purchase on the seller's terms. (Sec. 147, 148.) To procure a party who merely takes an option does n...
-Availability Of Purchaser. Part 2
Sec. 149. Procuring Person Who Takes Option A broker is not entitled to a commission for procuring a party who enters into an option which gives him the right to purchase but does not obligate him to...
-Availability Of Purchaser. Part 3
Sec. 152. Waiver Of Right To Disclosure Of Purchaser But while the seller is entitled to know who the proposed purchaser is, and with whom he is expected to enter into contract, he may relinquish tha...
-Availability Of Purchaser. Part 4
Sec. 154. When Financial Ability Of Purchaser Need Not Be Shown The purchaser's ability is generally presumed unless the contrary appear.34 The owner cannot avail himself of the objection that the c...
-Availability Of Purchaser. Part 5
Sec. 155. Burden Of Proof As To Financial Ability Of Purchaser Whether in actions generally by agents to recover commissions for procuring purchasers, where there has been no consummation of the sal...
-Chapter XV. Transaction Must Be Complete
Sec. 156. General Statement The broker must bring about a completed transaction, which requires that all the details of the bargain must be agreed upon. (Sec. 157-160.) Procuring a person who merely...
-Transaction Must Be Complete. Part 2
Sec. 160. Effect Of Special Conditions On Completeness Of Transaction.10 Where the purchaser's assent to buy is qualified by a statement that he accepts the vendor's offer and has forwarded contract ...
-Transaction Must Be Complete. Part 3
Sec. 161. Effect Of Failure To Contract As stated in Sec. 157, those jurisdictions which require an executed contract of sale before the broker is entitled to commissions are expressly excluded from ...
-Transaction Must Be Complete. Part 4
Sec. 164. Abandonment By Broker Where a broker opens negotiations, but, failing to bring the customer to the specified terms, abandons them, and the employer subsequently sells to the same person at ...
-Chapter XVI. Failure Of Principal To Complete
Sec. 165. General Statement If, after the broker performs his obligation, the seller is unable to consummate the sale, or refuses to do so, the broker is nevertheless entitled to his commissions. (Se...
-Failure Of Principal To Complete. Part 2
Sec. 168. Defective Title As Cause Of Failure.10 When the broker procures a party who contracts with his principal, it is no answer to the broker's claim for commissions that the principal is unable ...
-Failure Of Principal To Complete. Part 3
Sec. 169. Special Agreements As To Title.16 The owner of property may engage the broker under such an arrangement as to relieve himself from liability for commissions in case his title is defective, ...
-Chapter XVII. Failure Of Customer To Complete
Sec. 171. General Statement When the contract of sale is executed, the broker has earned his commission (Sec. 172), except in a few jurisdictions where the performance of the contract is held essenti...
-Chapter XVIII. Commissions On Exchanges Of Property
Sec. 175. General Statement The same rules apply to an exchange of property as to its sale. (Sec. 176-178.) Authority to sell does not imply authority to exchange. (Sec. 179.) While under the gener...
-Commissions On Exchanges Of Property. Part 2
Sec. 179. Authority To Sell Does Not Give Authority To Exchange Though a broker has authority to sell, this does not in itself either give or imply authority to exchange. In the absence of any trade...
-Commissions On Exchanges Of Property. Part 3
Sec. 182. Reason For Rule.20 In an action by a broker to recover commissions upon a proposed exchange of real property, it is necessary for him to show, says the court in Mutchnick v. Davis, 130 Ap...
-Commissions On Exchanges Of Property. Part 4
Sec. 183. Rule As Affected By Broker's Bad Faith Where a written agreement for an exchange was procured by the broker, but it turned out that the other party to the exchange did not own all the land ...
-Chapter XIX. Commissions On Loans
Sec. 184. General Statement In some jurisdictions commissions on loans are not earned until the loan is actually made, or refused because of the fault or miscarriage of the principal. Elsewhere they ...
-Commissions On Loans. Part 2
Sec. 187. New York Rule As Affected By Failure Of Principal.6 And while the general rule applicable to the employment of brokers to procure a loan is that their commissions are not earned unless the...
-Commissions On Loans. Part 3
Sec. 189. General Statement Of Rule.13 In another case,14 the rule is stated thus: The rights and duties of a broker employed to secure a loan depend upon the same principles which govern the broker...
-Commissions On Loans. Part 4
Sec. 191. Failure To Complete On Account Of Defects, Etc. 21 A broker who procures a mortgage loan as requested, is entitled to his commissions even though, on account of defects in the title to the ...
-Commissions On Loans. Part 5
Sec. 193. Terms Of Principal And, of course, the broker must procure a loan as applied for, that is, on his principal's terms.34 Where, for instance, the broker was employed to obtain a loan of not l...
-Commissions On Loans. Part 6
Sec. 195. Amount Of Commissions On Loan The question of the amount of the commissions is taken up later.45 There is also given in Part VII of the present volume the rates charged in the larger cities...
-Chapter XX. Commissions On Leases
Sec. 196. General Statement In some jurisdictions it is held that the commissions on a lease procured by a broker are not earned until the lease is negotiated, or a valid contract for a lease has bee...
-Commissions On Leases. Part 2
Sec. 199. Liability Of Tenant For Commissions Where a broker comes to the tenant apparently as the agent of the landlord, and after negotiations are begun, states that the landlord will pay no commis...
-Commissions On Leases. Part 3
Sec. 202. Operation Of Rule As To Failure Of Lease As a practical proposition, the rule that commissions for the full term of a lease are earned when the lease is signed, regardless of any subsequent...
-Chapter XXI. Who Is Liable For Commissions
Sec. 203. General Statement As a general rule, the person who engages the broker is liable for the commissions. (Sec. 204.) A mere promise to pay commissions may, under some circumstances, create no...
-Who Is Liable For Commissions. Part 2
Sec. 206. Liability Of Persons Not Owning The Property The fact that the party who employs the broker is not the owner of the property does not relieve him from liability for broker's commissions.15 ...
-Who Is Liable For Commissions. Part 3
Sec. 207. Trustees, Executors And Guardians A person acting in a representative capacity, such as trustee, executor or guardian, is personally liable for the broker's commission.21 As stated in Hickm...
-Who Is Liable For Commissions. Part 4
Sec. 209. Purchaser's Promise To Pay Commission Where the property is given to an agent to sell, and he proposes it to a buyer, and the latter requests the broker to do nothing further but to permit ...
-Chapter XXII. Amount Of Compensation
Sec. 211. General Statement Where the amount of commissions is expressly agreed upon, the broker is entitled to the agreed amount. (Sec. 212-218.) Where no rate or special mode of compensation has be...
-Amount Of Compensation. Part 2
Sec. 215. All In Excess Of Fixed Price It is not unusual for persons to list property with brokers and fix a net sale price, the brokers to retain as their compensation all they can secure in excess ...
-Amount Of Compensation. Part 3
Sec. 217. Rule As To All In Excess Of Fixed Price Where the broker is given a net sale price, and is to retain for his compensation all he may secure in excess of such net price, he is not, of course...
-Amount Of Compensation. Part 4
Sec. 219. Compensation In Absence Of Agreement Where a broker has been employed and no rate or special mode of compensation has been agreed on, the customary rate forms the proper rule of value for ...
-Amount Of Compensation. Part 5
Sec. 221. Custom And Usage Defined Strictly speaking, custom is that length of usage which has become law. It is a usage which has acquired the force of law.29 The words custom and usage are of...
-Amount Of Compensation. Part 6
Sec. 223. Ignorance Of Custom As we have seen, custom is a usage which has acquired the force of law 43 and ignorance of the law will not excuse. A general custom is the common law itself, or part o...
-Amount Of Compensation. Part 7
Sec. 225. Rules Of Real Estate Boards While a real estate board may undoubtedly make rules and regulations governing and binding upon its members, they are not binding upon, nor can they be enforced ...
-Chapter XXIII. When Commissions Are Due
Sec. 227. General Statement Commissions are due when the broker has been the procuring cause of the sale. (Sec. 228.) The courts are quite unanimous that the broker's commissions are not, unless exp...
-When Commissions Are Due. Part 2
Sec. 229. Requirements Of An Earned Commission.8 Excluding now any present consideration of the conflict of opinion referred to in the preceding section, and confining the discussion to what has been...
-When Commissions Are Due. Part 3
Sec. 231. Valid Agreements Deferring Payment Of Commissions By special agreement, however, the broker's commission may be made to depend upon the actual signing of a contract or passing of title, or ...
-When Commissions Are Due. Part 4
Sec. 233. Construction Of Agreements To Wait Until Title Is Closed Even where commissions are to be paid at the closing of title, it has been held to mean, not when the title is actually closed, bu...
-When Commissions Are Due. Part 5
Sec. 234. Deferred Commissions And Vendor's Warranty As To Title In a Texas case42 it is said: In the case of Gauthier v. West, 47 N. W. Rep. 656, it is stated that if the broker agrees to wait for ...
-When Commissions Are Due. Part 6
Sec. 235. Commissions On Instalment Sales Lots in the suburbs are frequently sold on the instalment plan. Urban property is sometimes also so sold. Where land companies are engaged in selling suburba...
-Part III. Principal And Agent. Chapter XXIV. Principal's Relations To Agent
Sec. 236. General Statement An owner may employ several brokers for the sale of the same property and is liable for commissions only to the broker who effects the sale. (Sec. 237.) Although an owner ...
-Principal And Agent. Chapter XXIV. Principal's Relations To Agent. Part 2
Sec. 240. Intervention Of Principal If the purchaser is found by the broker's efforts and through his instrumentality, he is entitled to compensation, although the owner negotiates the sale himself.1...
-Principal And Agent. Chapter XXIV. Principal's Relations To Agent. Part 3
Sec. 242. Rule When Broker's Efforts Fail In Schano v. Storch, 56 Misc. 484 (N. Y. 1907), the Appellate Term stated the rule thus: Where a broker's efforts fail, his employer is not precluded from t...
-Chapter XXV. Agent's Relations To Principal
Sec. 243. General Statement An agent is bound to exercise good faith, reasonable diligence and ordinary skill (Sec. 244-246), and he must not exceed his authority. (Sec. 247.) It is the agent's duty...
-Agent's Relations To Principal. Continued
Sec. 247. Agent Must Not Exceed Authority An agent must also obey instructions and observe the terms of the agency; otherwise he does not perform, in the eye of the law, his full duty towards his pr...
-Chapter XXVI. Liability Of Broker And Principal
Sec. 251. General Statement If a broker commits a fraud in the course of his employment he is liable and so is his principal. (Sec. 252-255.) All persons who act for or in the name of the owner in b...
-Liability Of Broker And Principal. Part 2
Sec. 254. Vendor Liable If He Accepts Proceeds All persons who act for or in the name of the owner in bringing about the transaction must be deemed his agents where he accepts the fruits of their ef...
-Liability Of Broker And Principal. Part 3
Sec. 256. Acceptance Of Proceeds Test Of Liability In Krumm v. Beach, 96 N. Y. 398 (1884), the contract of sale was made by the agent in his own name, without the knowledge of the principal, and all ...
-Chapter XXVII. Liability Of Principal To Third Parties
Sec. 258. General Statement The principal is liable generally to third parties for the torts of his agent in the course of his employment, but not for the willful trespass of his agent, committed wit...
-Liability Of Principal To Third Parties. Part 2
Sec. 262. Liability Of Principal For Agent's Contracts The liability of the principal on contracts made by an agent depends upon the authority of the agent. The authority may be real or only apparent...
-Liability Of Principal To Third Parties. Part 3
Sec. 264. Notice To Agent As Notice To Principal The principal is chargeable with all the knowledge the agent possesses in the transaction of the business he has in charge.18 Or as another case puts ...
-Liability Of Principal To Third Parties. Part 4
Sec. 266. Agent's Knowledge Obtained In Other Transactions As to how far a principal is held chargeable with knowledge of facts communicated to his agent, where the notice was not received or the kno...
-Chapter XXVIII. Liability Of Broker To Third Parties
Sec. 268. General Statement An agent is not liable to third parties for moneys properly received by him in the name and in the business of the principal. (Sec. 270.) For misfeasance the agent is gen...
-Liability Of Broker To Third Parties. Part 2
Sec. 271. Liability Of Agent For Misfeasance And Nonfeasance In Van Antwerp v. Linton, 89 Hun (N. Y.) 417, 419, the court, per Parker J., say: 'as between himself and his master he is bound to serve...
-Liability Of Broker To Third Parties. Part 3
Sec. 272. Agent Liable For Improper Contract It is the general rule that an agent, to avoid personal liability, must contract in such a form as to give a remedy against his principal, and if in maki...
-Liability Of Broker To Third Parties. Part 4
Sec. 274. Ground Of Agent's Liability For Unauthorized Acts In a case already cited,18 it was said: 'Wherever a party undertakes to do any act as the agent of another, if he does not possess any aut...
-Liability Of Broker To Third Parties. Part 5
Sec. 275. Warranty Of Authority To Make Contract The principle is applicable to frequent situations. A few illustrative cases will suffice to show its application. In Rowland v. Hall, 121 App. Div. 4...
-Liability Of Broker To Third Parties. Part 6
Sec. 277. Liability Of Agent Acting For Undisclosed Principal The general rule is that one who acts as agent for another, in order to release himself from liability, should disclose his principal, b...
-Liability Of Broker To Third Parties. Part 7
Sec. 278. Unlawful Intrusion On Real Property No attempt is made in the present volume to present the criminal statutes of the several states relating to offenses against real property. A provision o...
-Part IV. Fraud. Chapter XXIX. What Constitutes Fraud. Acts Not Usually Considered Fraudulent
Sec. 279. General Statement Fraud is a false representation or non-disclosure of a material fact, made with intent to deceive and operating to deceive another party to his injury. Fraud may be commit...
-What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Part 2
Sec. 282. Silence And Concealment. The general rule is that mere silence is no fraud, except where the silence amounts to an affirmation that a state of things exists which does not.7 That which is...
-What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Part 3
Sec. 283. Requirements As To Disclosure The rule is well established that where persons are dealing with each other upon equal terms, and no confidential relation exists between them, neither is bou...
-What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Part 4
Sec. 285. Promises, Hopes, Etc It is a familiar rule, where representations consist in mere expressions of hope, expectations and the like, that the party to whom they are made is not legally justif...
-What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Part 5
Sec. 288. Assertion Of Value, Though False, Not Ordinarily Fraudulent Assertions must be considered, says the court in Conlan v. Roemer, 52 N. J. L. 55 (1889), in the light of the subject-matter i...
-What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Part 6
Sec. 290. Assertions And Opinions Fraudulent In Intent In Hetland v. Bilstad, 118 N. W. 423, 424 (Iowa 1908), it was said: Parties in negotiating deals have the right to exalt the value or quality o...
-Chapter XXX. What Constitutes Fraud. Acts Usually Considered Fraudulent
Sec. 292. General Statement Fraud may be based on representations that others have offered a certain price for the property, or that a certain price was paid for the property,1 or that the property b...
-What Constitutes Fraud. Acts Usually Considered Fraudulent. Continued
Sec. 295. Representations As To Rentals Fraud may be based on false statements of rental.8 Misrepresentations as to rental of the property made by the broker is a sufficient basis for rescission of t...
-Chapter XXXI. Negligence On Part Of Vendee
Sec. 301. General Statement The authorities are not entirely harmonious as to how far a vendee may rely upon the representations of the vendor. In some jurisdictions it is held that representations t...
-Negligence On Part Of Vendee. Part 2
Sec. 304. Vendee Required To Exercise Caution Again, it is said, Prudence and caution must be exercised. The representations must be such that an ordinarily prudent man would rely on as true, to jus...
-Negligence On Part Of Vendee. Part 3
Sec. 306. Vendee Must Exercise Ordinary Caution In the kindred cases of false pretences, the criminal law holds to the rule we have above given, and it has been resolved, that where an exercise of c...
-Chapter XXXII. Waiver. Rescission. Remedies
Sec. 308. General Statement The right of rescission on account of fraud may be waived by recognizing the contract as binding, after knowledge of the fraud. (Sec. 309-312.) A person who has been indu...
-Waiver. Rescission. Remedies. Part 2
Sec. 311. Full Knowledge Of Fraud Not Necessary To Waiver It is not necessary, in order to make the election conclusive, that the party electing shall be acquainted with all the evidence which may te...
-Waiver. Rescission. Remedies. Part 3
Sec. 314. Remedies For Fraud. Action To Rescind A person who has been induced by fraudulent representations to become the purchaser of property has upon discovery of the fraud three remedies open to...
-Waiver. Rescission. Remedies. Part 4
Sec. 317. Offer To Restore While generally the defrauded party must, before he can maintain an action, either return or offer to return what he has received under a contract before he may rescind it ...
-Waiver. Rescission. Remedies. Part 5
Sec. 320. Proof Of Fraud At Law And In Equity The question may arise as to whether the fraud requisite as a basis for rescinding a contract in equity is of the same nature as that demanded in a court...
-Chapter XXXIII. Criminal Fraud
Sec. 321. General Statement In New York, it is criminal to obtain a signature by false pretense or to conspire to cheat and defraud another out of property. (Sec. 322-324.) Also to corrupt or to ente...
-Part V. Procedure. Chapter XXXIV. Pleading
Sec. 326. General Statement In suing for broker's commissions, the broker has the option either to state the facts constituting the cause of action or, if he has performed his part, according to thei...
-Procedure. Chapter XXXIV. Pleading. Part 2
Sec. 329. Methods Of Pleading In most cases when drawing a complaint for the recovery of a broker's commissions, either of two methods may be adopted, - the party may, at his option, state the facts ...
-Procedure. Chapter XXXIV. Pleading. Part 3
Sec. 332. Action Based Upon A Contract Where an action or defense is based upon a contract, the pleading in which it is set forth should allege all the material facts.13 A consideration is essentia...
-Procedure. Chapter XXXIV. Pleading. Part 4
Sec. 334. Full Performance And Excuse For Performance Under a complaint setting out a contract and averring its performance by the plaintiff, evidence in excuse for non-performance has been held not ...
-Procedure. Chapter XXXIV. Pleading. Part 5
Sec. 336. Matters Of Defense Under a general denial a defendant may offer evidence to show that the contract actually made was another than that pleaded in the complaint. Thus, where the complaint al...
-Chapter XXXV. Interpleader
Sec. 338. General Statement When two or more brokers are employed on the same property, the circumstances may be such that both brokers claim the commission and the owner be unable to determine which...
-Interpleader. Part 2
Sec. 340. Nature Of Interpleader A bill of strict interpleader is one in which the complainant asserts his possession of some fund or something in which he claims no personal interest, but in which ...
-Interpleader. Part 3
Sec. 343. Method Of Procedure The procedure with respect to interpleader is, in many states, regulated by statute. Among the states which regulate the matter by statutory provision are New York,10 Ma...
-Interpleader. Part 4
Sec. 344. Interpleader When Action Brought In Court Having No Jurisdiction To Interplead Where two brokers claim commission on the same sale to the same purchaser, and one of them sues the vendor for...
-Part VI. Contracts For Sale Of Real Estate. Chapter XXXVI. Agreements Relating To The Sale Of Real Estate
Sec. 347. Method Of Presentation In the preceding chapters of the present volume, every proposition is fortified by the citation of authority. In this chapter the citation of authorities is omitted. ...
-Agreements Relating To The Sale Of Real Estate. Part 2
Sec. 350. Oral Agreements And Informal Written Agreements As already stated, the parties to an agreed sale of real estate sometimes find it inexpedient to delay long enough to adjourn to some conveni...
-Agreements Relating To The Sale Of Real Estate. Part 3
Sec. 351. Options On Real Estate We have already discussed the broker's status when he procures an option.4 A general idea of the nature of an option is, however, not without value. An option on real...
-Agreements Relating To The Sale Of Real Estate. Part 4
Sec. 354. Execution Of Contract Of Sale The parties to a contract for sale of real estate may sign it in person, or it may be signed for either party by the agent of that party. The broker's right to...
-Chapter XXXVII. Subject Matter Of Contracts For Sale Of Real Estate
Sec. 355. Drafting Contract For Sale Of Real Estate Regular forms of contract are easily obtainable at any law stationer's.1 Hence, the elemental essentials of such contracts need not be discussed. H...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 2
Sec. 357. Statement As To Ownership In Adjacent Streets Or Highways Another question which frequently arises and concerning which a clear statement should be made in the agreement of sale, is whether...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 3
Sec. 358. Statement Of Gross Or Acreage Price Another question sometimes arising is whether the parties intended to sell and buy for a gross sum though the acreage is mentioned, or according to a cer...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 4
Sec. 360. Leases Of Property Held Under Contract Of Sale If there are any outstanding leases, the contract should state that the sale is subject to same. Some conveyancers also insert a clause that t...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 5
Sec. 362. Suburban Property In purchasing suburban property, if the purchaser wishes to protect himself against subsequent assessments he should require a clause in the contract of sale stating that ...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 6
Sec. 363. New Buildings In purchasing property upon which buildings have been recently erected, it is safer to require and so state in the contract that the seller at the time of the delivery of the ...
-Subject Matter Of Contracts For Sale Of Real Estate. Part 7
Sec. 366. Approval Clause In modern contracts for sale of real estate, especially in the large cities, there is usually inserted what is known as an approval clause. This innocent looking clause us...
-Part VII. Schedules And Forms. Chapter XXXVIII. Brokers' Rules. Schedules Of Fees, Charges And Commissions
Form 1. - Schedule of Charges and Commissions. New York City.1 (a) Regulations as to Private Sales. The following commissions shall be chargeable on private sales, except where a special contract ha...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 2
How to Estimate Taxes and Insurance Premiums Where Lease Calls for Net Rental. As it will be impossible to correctly judge what the future taxes and insurance premiums will be during the term of a lea...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 3
Provision (A) of Rule 20. If Annual Ground Rent is Not Uniform. If the annual ground rental during the entire term of the lease is not uniform, the charge shall be made on the value of the land as det...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 4
The commission charged shall be upon the total sale price, and not upon the owner's equity. (5) Subdivision. On the sale and management of subdivision property, where the owner does the advertising a...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 5
(1) Transferring Leases. For the transferring of leases on any premises, from one tenant subletting to another, a rate of 2% of the total balance due on such unexpired lease shall be charged to the ...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 6
In the event that the earnest money in contract is deposited with other than the agent representing the owner, all charges for making said escrow shall be paid for by the party requesting the escrow. ...
-Brokers' Rules. Schedules Of Fees, Charges And Commissions. Part 7
(f) Renewals of Leases. To brokers negotiating original leases and employed for renewals, without increase of rental over that named in the original leases, one-half the regular leasing commissions p...
-Chapter XXXIX. Contract Of Sale
Form 17. - Contract of Sale. New York City. Agreement, made and dated October 1st, 1910, between Executive Realty Company, a corporation incorporated under the laws of the State of New York, hereinaf...
-Contract Of Sale. Part 2
$........ should the present first mortgage at any time be satisfied, and such clause shall further subordinate said mortgage to any new first mortgage in place of the present first mortgage, provided...
-Contract Of Sale. Part 3
The seller shall, within..................days from the date hereof - (a)1 Furnish to the purchaser for examination a complete, merchantable Abstract of Title, or merchantable copy, brought down to t...
-Contract Of Sale. Part 4
Notarial Seal Form 19. - Contract of Sale. Chicago, Illinois.1 This Memorandum Witnesseth, That............................ ............................hereinafter called the purchaser.... hereby a...
-Contract Of Sale. Part 5
After the title to the real estate hereinbefore described has been examined and approved by the purchaser or his attorney, or the Chicago Title and Trust Company has indicated in writing its willingne...
-Contract Of Sale. Part 6
The said vendor... .agree___to furnish and deliver to said vendee...within..............days from the date hereof, a guarantee policy in usual form, to be issued by the Chicago Title and Trust Company...
-Contract Of Sale. Part 7
The Gas Fixtures, Heaters, Ranges, etc., annexed to the said building are included in said sale. All Perpetual Policies of Fire Insurance to be paid for at withdrawal value and term Policies at propo...
-Contract Of Sale. Part 8
Form 23. - Agreement for Sale of Property. Baltimore, Maryland.1 This Agreement is made in duplicate this......................day of ........................... 19___, between..........................
-Contract Of Sale. Part 9
Agent's Sale Contract Chicago, Illinois,................19.... To..................................... Owner I Hebeby Promise and Agree to purchase upon the following terms and at the price of.......
-Contract Of Sale. Part 10
III. No part of any dwelling including piazzas, bay windows or steps shall be erected on any portion of said premises nearer than ten feet from the street line of the said premises, and no stable, aut...
-Contract Of Sale. Part 11
Assignment For a good and valuable consideration to the undersigned, in hand paid, the receipt of which is hereby acknowledged,......................, the undersigned, part... .of the second part to ...
-Contract Of Sale. Part 12
Contract For Exchange This Agreement, entered into this..........................day of ..........................A. D., 19...., by and between.............. ..................................of ......
-Contract Of Sale. Part 13
Deed And Money Application No............ Escrow No............ Chicago,..................19.... Chicago Title and Trust Company: hereby deposit with you.....................deed from................
-Contract Of Sale. Part 14
Assignment Know All Men by These Peesents, that I,......................of............................., in consideration of................... ..............Dollars to me paid before the sealing an...
-Chapter XL. Miscellaneous Forms
Any provisions of the following form not desired by either the broker or the principal may be omitted. Form 36. - Authority to Broker to Sell.1 I hereby employ and authorize............................
-Miscellaneous Forms. Part 2
Agency Contract Chicago, Illinois.................19___ I Hereby Grant You, for a period of............months from this date, and thereafter until this agreement is revoked by notice in writing deli...
-Miscellaneous Forms. Part 3
Broker 's Authorization To Exchange Property I hereby employ and authorize....................................real estate broker(s) to exchange for me, premises known as No..........1 for such other ...
-Miscellaneous Forms. Part 4
Application Fob Loan Date............................ No............. The undersigned desires to procure a mortgage loan on premises described below, as follows: First Mortgage, $................ a...
-Miscellaneous Forms. Part 5
Application For Loan (Not to be considered unless each question is answered.) I hereby make application to the Title Guaranty Trust Co. for a loan of ....................................................
-Miscellaneous Forms. Part 6
Application For Loan To the Title Guarantee and Trust Company: (of Baltimore, Md.) The undersigned hereby applies to your company for a first mortgage loan of...........................................
-Miscellaneous Forms. Part 7
Encroachment Agreement Agreement, made this sixth day of October, in the year Nineteen Hundred and Ten, between Joseph Scott and Annie Scott, his wife,2 of the Borough of Brooklyn of the City of New ...
-Chapter XLI. Forms For Pleading.1
Form 46. - Complaint for Recovery of Broker's Commissions. Short. (First Form.)2 The City Court of Brooklyn. JULIUS N. KELLEY, CHARLES H. MOLTER and FREDERICK D. KELLEY, V. Milton Buckley The Pla...
-Forms For Pleading.1. Continued
Order To Show Cause On the annexed affidavit of Frederick Lake verified.................. ...................and on all the papers and proceedings herein, it is hereby Ordered, that the plaintiffs ...
-Preface To Supplement
Probably no book was ever written in which, upon completion, an honest author could not see opportunities for improvement. And, in the law, where new principles are being evolved and old principles ar...
-Supp. Ch. II. Who May Act As Broker. License Requirements
Sec. 10a. Public Officials (P. 24) A deputy tax commissioner holds a quasi-judicial office and it is against public policy to enforce an alleged contract to pay him commissions as a broker for procur...
-Supp. Ch. II. Who May Act As Broker. License Requirements. Continued
Sec. 11a. License Of Insurance Brokers (P. 25) In some states, persons acting as insurance brokers are required to be licensed.15 In New York, Sec. 91 of the Insurance Law provides that no life insur...
-Supp. Ch. III. Written And Oral Authority Of Broker
Sec. 13. Form Of Authorization (P. 26) Add to footnote 1: Hancock v. Dodge, 85 Miss. 228 (1904). See Miss. Code of 1892, Sec.4225, par. (C). A verbal modification of written authority to sell real ...
-Supp. Ch. III. Written And Oral Authority Of Broker. Continued
Sec. 18. Missouri; Authority To Sell (P. 29) The Missouri Act of March 28, 1903 (Sec. 4634, R.S. 1909), forbidding an agent in certain cities to sell real estate unless his authority is in writing, i...
-Supp. Ch. IV. Broker's Power To Sign Contract
Sec. 28. Broker's Authority To Sign Contract (P. 36) A distinction is drawn, too, between authority to sell and authority to convey land. Authority to convey land must be conferred by an instrument ...
-Supp. Ch. V. Broker Acting For Both Parties
Sec. 49. Acting For Both Parties A Breach Of Contract (P. 49) Add to footnote 4 (p. 50): King v. Reed, 24 Cal. App. 229; 141 Pac. 41 (1914); Jacobs v. Beyer, 141 App. Div. 49; 125 N. Y. Suppl. 597 (...
-Supp. Ch. V. Broker Acting For Both Parties. Continued
Sec. 52. Acting For Both Parties With Their Knowledge (P. 51) Add to footnote 11: Ramey v. Sturgeon, 86 S. E. (Ga.) 660 (1915); Madden v. Davis, 192 111. App. 575 (1915). Defendant employed as brok...
-Supp. Ch. VI. Broker's Right To Interest In Profits
Sec. 62. Agent May Not Also Act As Principal (P. 61) As a general rule, where one is employed by an owner of property to sell it as his agent, he is not authorized to sell it to himself alone, or tog...
-Supp. Ch. VII. General Authority Of Broker
Sec. 74. Broker's Power To Employ Other Brokers (P. 70) Add to footnote 5 (p. 71): Mitchell v. Catlin Co., 71 Misc. 450; 128 N. Y. Suppl. 692 (1911); Simms v. St. John, 105 Ark. 680; 152 S. W. 284; ...
-Supp. Ch. VII. General Authority Of Broker. Part 2
Sec. 78. Insurance Brokers (P. 77) See also Sec. 11 as to license requirements. An insurance broker may occupy such relations to an insurance company as to be its agent in many ways, including the r...
-Supp. Ch. VII. General Authority Of Broker. Part 3
Sec. 78a. Compensation For Appraisals And Giving Expert Testimony (P. 78) Brokers are often called as witnesses in trials to give testimony as to values of property, situation, character, and surroun...
-Supp. Ch. VIII. Revocation Of Broker's Authority
Sec. 80. Termination Of Agency By Mutual Consent (P. 79) Where the broker is employed for a definite time, as where he is to sell the property within a specified time, he is not entitled to compensat...
-Part II. Commissions And Their Recovery. Supp. Ch. IX. General Rules As To Commissions
Sec. 97. Respective Rights Of Brokers When Several Are Employed (P. 95) Where the property is placed in the hands of several brokers for sale, the owner is bound to pay the broker who in fact effect...
-Supp. Ch. X. Broker Must Be Employed
Sec. 104. Volunteers Not Entitled To Commission (P. 105) basis for claim for commissions is the broker's employment.1 Where a real estate broker acting for another who desires to purchase real estat...
-Supp. Ch. XI. Broker Must Be Procuring Cause Of Sale
Sec. 116. Procuring Cause (P. 117) The broker is entitled to his commission if he is the primary, proximate, and procuring cause of the sale.1 The broker must show he was the procuring cause of th...
-Supp. Ch. XI. Broker Must Be Procuring Cause Of Sale. Part 2
Sec. 122. Unsuccessful Efforts (P. 127) The broker must be the procuring cause of the sale.11 Sec. 125. Effort Required Of Broker (P. 130) A mere paper offer to buy is not sufficient. The broker ...
-Supp. Ch. XI. Broker Must Be Procuring Cause Of Sale. Part 3
Sec. 126. Presence Of Broker (P. 131) Add to footnote 52: Morrison v. Hale, 96 Atl. (N. H.) 298 (1915). Add to footnote .58 (p. 132): Travis v. Bowron. 138 App. Div. 554; 123 N. Y. Suppl. 290 (191...
-Supp. Ch. XI. Broker Must Be Procuring Cause Of Sale. Part 4
Sec. 130. Consummation Of Sale By Principal (P. 137) When a broker calls the attention of a prospective purchaser to property which he has been authorized to offer for sale, and communicates that fa...
-Supp. Ch. XII. Sale Must Be On Employer's Terms
Sec. 132.- Purchaser Must Agree To Seller's Terms (P. 141) Where the broker succeeds in procuring a person ready, willing, and able to purchase on the terms of the vendor, and the vendor then imposes...
-Supp. Ch. XII. Sale Must Be On Employer's Terms. Continued
Sec. 134. Acceptance By Owner Of Different Terms (P. 144) Add To Footnote 15: Futrell v. Reeves, 165 Ky. 282; 176 S. W. 1151 (1915). Sec. 135. Broker's Commission, If He Is Procuring Cause, Not Af...
-Supp. Ch. XIII. Broker Must Act In Good Faith
Sec. 141. Good Faith (P. 150) It is an elementary principle that an agent cannot take upon himself incompatible duties, and characters, or act in a transaction where he has an adverse interest or em...
-Supp. Ch. XIV. Availability Of Purchaser
Sec. 147. Ready And Willing To Purchase (P. 155) Although the ready, willing, and able rule is concurred in, courts in effect are sometimes led almost by the contrary rule, because of their interpret...
-Supp. Ch. XIV. Availability Of Purchaser. Part 2
Sec.150. Change Of Mind By Vendor (P. 159) When the broker has procured a willing and able purchaser, who assents to all the terms which the vendor has prescribed to the broker, the broker cannot be ...
-Supp. Ch. XV. Transaction Must Be Complete
Sec. 157. What Constitutes A Completed Transaction (P. 166) Add to footnote 1: Chenkin v. Lipman, 138 App. Div. 267; 122 N. Y. Suppl. 1083 (1910). Sec. 158. General Rule As To Completeness Of Trans...
-Supp. Ch. XVI. Failure Of Principal To Complete
Sec. 167. General Rule As To Failure Of Principal To Complete (P. 176) The principal may not defeat the broker's right to an earned commission by capricious refusal to accept the purchase.1 The brok...
-Supp. Ch. XVII. Failure Of Customer To Complete
Sec. 172. General Rule As To Failure Of Customer (P. 181) It is even intimated that where a purchaser refuses to complete his contract, and the vendor does not compel the performance of the contract,...
-Supp. Ch. XVIII. Commissions On Exchanges Of Property
Sec. 177. Commissions On Exchanges (P. 186) It is said that in the case of an exchange, the right of the broker to commissions depends upon showing that the parties actually reached an agreement as t...
-Supp. Ch. XIX. Commissions On Loans
Sec. 186. New York Rule (P. 194) It has been settled by repeated decisions of this court that where a broker is employed to find a purchaser for real estate, and procures one ready, able and willing...
-Supp. Ch. XIX. Commissions On Loans. Continued
Sec. 188. The Rule In Some Of The Other States (P. 196) In the fourth line, after the words upon the terms proposed add footnote 11a as follows: Hughes v. Chung Sun Tung Co., 28 Cal. App. 371; 154...
-Supp. Ch. XX. Commissions On Leases
Sec. 197. When Broker's Obligations Are Performed (P. 205) The doctrine of the cases relating to sales of real estate is equally applicable to those of leases of real estate.1 A real estate broker m...
-Supp. Ch. XXI. Who Is Liable For Commissions
Sec. 204. The Employer Is Usually Liable For Broker's Commissions (P. 212) One tenant in common cannot bind the other in the employment of a broker without the latter's acquiescence, nor can the latt...
-Supp. Ch. XXI. Who Is Liable For Commissions. Part 2
Sec. 207. Trustees, Executors, And Guardians (P. 217) At End Of First Paragraph Add Footnote 21a As Follows: See also Matter of Bielby, 91 Misc. 353; 155 N. Y. Suppl. 133 (1915). Although the broker...
-Supp. Ch. XXI. Who Is Liable For Commissions. Part 3
Sec. 208. Commissions From Purchaser (P. 218) In second paragraph, after words, are not unusual, add footnote 27 a: Roberts v. Martin (Ga. App.) 82 S. E. 813 (1914). Sec. 209. Purchaser's Promise...
-Supp. Ch. XXI. Who Is Liable For Commissions. Part 4
Sec. 210b. Misrepresentation By Purchaser To Seller As To Who Is Broker (P. 221) False representations on the part of the purchaser of real estate by which the seller is induced to pay the broker's c...
-Supp. Ch. XXII. Amount Of Compensation
Sec. 214. Measure Of Compensation (P. 223) As to recovery by broker on failure of parties to carry out exchange contract, of the following items: (1) commission on exchange from both parties; (2) com...
-Supp. Ch. XXIII. When Commissions Are Due
Sec. 228. Rule As To When Commissions Are Due (P. 238) When a broker, as a part of his employment, assumes to execute for his principal an executory contract of sale or exchange, he does not become ...
-Supp. Ch. XXIII. When Commissions Are Due. Continued
Sec. 232. Contingent Commission Agreements (P. 243) Where a contract for the sale of real estate provided for the payment of a broker's commission to the broker when the title closed and not otherwis...
-Supp. Ch. XXIII. Sunday Sales
(To follow page 249) Sec. 235a. General Statement Although Sunday sales are of frequent occurrence, only one case has been found reported in which the broker's right to commissions has been disputed...
-Supp. Ch. XXIII. Sunday Sales. Part 2
Sec. 235d. Commissions On Sunday Sales It has been held that where there is an entire contract to do certain work, the most of which is to be done on Sunday, the contract is void.14 But it has also ...
-Supp. Ch. XXIII. Sunday Sales. Part 3
Sec. 235e. Sunday Laws Of Various States In New Jersey the statute provides, That no travelling, worldly employment or business, ordinary or servile labor or work either upon land or water (works of...
-Supp. Ch. XXIII. Sunday Sales. Part 4
Sec. 235g. Sunday Statutes Which Do Not Affect Sunday Contracts Under the Florida statute,33 it was said that, The execution of a note, mortgage, or other contract requires neither manual labor nor ...
-Part III. Principal And Agent. Supp. Ch. XXIV. Principal's Relations To Agent
Sec. 237. Principal May Employ Several Brokers (P. 250) Where the principal employs several agents as brokers, the sale of the land by one of the agents or the principal terminates the authority of ...
-Supp. Ch. XXV. Agent's Relations To Principal
Sec. 249. Agent's Power To Make And Indorse Negotiable Paper (P. 258) At end of Sec. 249 (p. 259), add: This case1 was subsequently reversed because there was no evidence that the accomplishment of ...
-Supp. Ch. XXVI. Liability Of Broker And Principal
Sec. 252. Misrepresentations By Brokers And Agents (P. 260) The fact that in making false representations, the promissor is acting for others, may render his principals liable also, but gives him, th...
-Supp. Ch. XXVII. Liability Of Principal To Third Parties
Sec. 260. Liability Of Principal For Agent's Wrongdoing (P. 267) In Williams v. Goldberg,1 the landlord was held liable for injuries sustained by a tenant from a falling ceiling, the tenant having co...
-Supp. Ch. XXVIII. Liability Of Broker To Third Parties
Sec. 271a. Personal Liability Of Agent On Contracts (P. 280) In general, when a person acts and contracts avowedly as an agenl of another, who is known as the principal, his acts and contracts, with...
-Part IV. Fraud. Supp. Ch. XXIX. What Constitutes Fraud. Acts Not Usually Considered Fraudulent
Sec. 255. Promises. Hopes, Etc. (P.298) A statement that an arartmcnt house can be altered so that a larger income can be obtained from it is a mere expression of opinion, and not a tact which will s...
-Fraud. Supp. Ch. XXIX. What Constitutes Fraud. Acts Not Usually Considered Fraudulent. Continued
Sec. 286. Promises And False Representations (P. 299) A representation which constitutes a promise to do something in the future, does not constitute fraud.7 After Adams v. Gillig cited on page 29...
-Supp. Ch. XXX. What Constitutes Fraud. Acts Usually Considered Fraudulent
Sec. 293. Representation That Certain Price Had Been Offered (P. 305) Add to footnote 2: Hull v. Doheny, 152 N. W. (Wisc.) 417 (1915). Sec. 294. Representation As To Value And Price Paid For Proper...
-Supp. Ch. XXXI. Negligence On Part Of Vendee
Sec. 307. Negligence No Bar To Relief In Cases Of Wilful Fraud (p. 316) An echo of an early New York real estate boom is found in an old case, wherein it was said: It will seem marvellous, if not w...
-Supp. Ch. XXXII. Waiver. Rescission. Remedies
Sec. 309. Waiver Of The Fraud (P. 318) It is possible that, after having been induced to purchase by fraud and deceit, a person not only may elect to retain the property, but also to waive his right ...
-Part V. Procedure. Supp. Ch. XXXIV. Pleading
Sec. 331. Pleading The Facts Constituting The Cause Of Action (P. 333) The broker cannot set up in his complaint one cause of action and recover on another, against the objection of the defendant, an...
-Procedure. Supp. Ch. XXXIV. Pleading. Continued
Sec. 336a. Bill Of Particulars (P. 340) A bill of particulars of a broker's claim may be had, especially where the principal denies having employed the broker, it having been held that the rule is we...
-Supp. Ch. XXXV. Interpleader
Sec. 345. Requisites Of Interpleader (P. 351) In the ordinary case of rival brokers claiming a commission, interpleader is proper, but not so where the employer has, by his conduct, left himself open...
-Part VII. Schedules And Forms. Supp. Ch. XXXIX. Forms Of Contracts For Sale Of Real Estate
Form 17 - Contract of Sale. New York City (p. 398) To clause (p. 400) stating that gas fixtures, etc., pass with sale, add: storm sash and storm doors. Supp. Ch. XL. Miscellaneous Forms Form 36a ...
-Legal and Business Publications of The Ronald Press Company
Legal and Business Publications of The Ronald Press Company 229 Broadway, New York Corporate Organization. By Thomas Conyngton, of the New York Bar. 402 pages. 6x9 in. 1908. Buckram binding:. Corp...









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