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 real estate broker receiving money and not applying it to the purposes specified in the agreement under which he acted, within a reasonable time, is chargeable with interest. Harrison v. Long, 4 Desaus. (S. C.) 110. A broker is not liable for interest on money of his principal unless in default, or unless he has made use of the money for his own profit. Williams v. Storrs, 6 Johns. Ch. (N. Y.) 353.
Where a broker was only entitled to commissions out of the last three of a series of notes to be given by the purchaser for the property, which were to be executed as of September 1, 1902, and were to mature on the first days of July, August and September, 1907, the broker, on the principal's failure to complete the contract, was only entitled to recover interest on the contract commissions from August 1, 1907. Bankers' Loan & Inv. Co. v. Spindle, 108 Va. 426, 62 S. E. 266.
Broker held entitled to recover interest on the value of his services in effecting a sale of timber land from the date the owner's liability was denied. Paschall & Gresham v. Gilliss, 75 S. E. 220, 113 Va. 643, Ann. Cas. 1913 E, 778.
 
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