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.
Defendant was the owner of certain land on which there was a mortgage, for the payment of which he was not personally bound, and he gave plaintiff the exclusive sale of the land for sixty days, and one-half of all moneys obtained on the sale thereof over $20 per acre, less $455; plaintiff procured a purchaser to whom the defendant conveyed the land subject to the mortgage which the purchaser did not assume. Held, that in determining plaintiff's compensation the amount of the mortgage must be taken as a part of the purchase price. Hobart v. Stewart, 99 Minn. 394, 109 N. W. 704. See also Sees. 376, 369.
 
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