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 paper signed by a principal and a proposed tenant stipulated, "We agree to execute a lease of certain premises to such tenant" from October or November, 1906, for seven years, at a rental of $18,000 per year, the lease as to conditions to be an exact copy of the lease we now hold on the above premises "(by the conditions it means taxes, insurance, if in lease)" the running expense, etc., included; it is understood that at signing of lease six months' rent in advance is to be paid "by the tenant," this to draw six per cent. yearly in advance, principals to secure the proposed tenant for above amount by assignment of lease of the premises now existing, provided this can be done, or other security, lease to be executed on or before October 10, 1902. Held, that the instrument was a mere option, in no way obligating the proposed tenant, and the procuring of his signature thereto was not a compliance on the broker's part with a contract between the broker and his principal whereby the broker was to become entitled to a certain commission for procuring a tenant as such lessee of the premises in question, in which the principal had a leasehold interest. Benedict v. Pincus, 95 N. Y. S. 1042, 109 App. Div. 20; Laws & Bradford v. Schmidt, 80 Ohio St. 108, 88 N. E. 319.
 
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