Law of Real Estate Brokers: With Forms ...

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Ronald Press, 1910 - Real estate business - 473 pages
 

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Contents

New Jersey Authority to Sell or Exchange 17 California Authority to Purchase or Sell 18 Missouri Authority to Sell
29
Negotiate Loan 20 Nebraska Authority to Sell
30
Washington Authority to Sell or Purchase 22 Montana Authority to Purchase or Sell 23 Authority to Collect Rents 24 Statute of Frauds as Affecting ...
31
a Where No Time is Fixed
33
b Agreements for More than a Year c Agreements for More than a Year but Terminable upon Some Contingency
34
Brokers Power to Sign Contract 27 General Statement 28 Brokers Authority to Sign Contract
36
Powers Conferred by Instructions to Sell Property
37
Appointment as Agent
38
New York Rule
39
New Jersey Rule
40
Massachusetts Rule 35 California Rule 36 Illinois Rule
41
Rule in Other States 38 When Broker has Authority to Sign Contract 39 Mere Employment Does Not Give Power to Contract
42
Extent of Authority Ordinarily Conferred by Employment
43
Dissenting Opinions as to Incidental Power to Contract
44
Ratification of Contract Signed by Agent
45
Liability of Agent for Signing Unauthorized Contract 44 Formalities Where Agent has Authority to Sign Contract 45 Authority to Cancel or Surrend...
46
Broker Acting for Both Parties 47 General Statement Broker Not to Act for Both Sides
48
Acting for Both Parties a Breach of Contract
49
Constitutes a Fraud 51 The Rule Applies to Exchange of Property
50
Acting for Both Parties with Their Knowledge
51
Not Unlawful in Itself 54 Broker Vested with No Discretion May Act for Both Parties
52
Compensation of Broker Without Discretion
53
General Rule as to Discretion
54
Reason for the Rule
55
How Question of Double Employment is Raised
58
Principal
66
General Authority of Broker
69
Revocation of Brokers Authority
79
Fraud of Agent as Revocation
91
Revocation as to Third Parties
92
COMMISSIONS AND THEIR RECOVERY Chapter IX General Rules as to Commissions 95 General Statement
93
When Commissions are Earned
94
Respective Rights of Brokers when Several are Employed
95
Rule as to Commissions when Several Brokers are Employed
97
Liability of Principal for Commissions to Exclusive Agent
99
for Commissions when Principal Negotiates Sale
100
Rule as to Commissions when Brokers Efforts Fail
102
On What Recovery of Commissions Depends
103
Chapter XBroker Must Be Employed 103 General Statement 104 Volunteers Not Entitled to Commission 105 When Party Acting is a Volunteer
105
Employment Necessary to Recovery of Commissions
107
Manner of Employment 108 Employment Must be by Owner or Authorized Agent
108
Ratification Equivalent to Original Employment
109
Intent to Ratify Must be Plain
110
Ratification by Implication
111
Must be with Full Knowledge of Facts
112
Broker Must Be Procuring Cause of Sale 113 General Statement 114 Methods of Earning Commission
114
Obligations of the Broker 116 Procuring Cause
115
What is Required to Constitute a Broker a Procuring Cause
118
Procuring Cause as Affected by Special Contract
121
General Rule as to Procuring Cause
124
Procuring Cause when Representing Purchaser
125
Effect of Promises to Pay Commission
126
Unsuccessful Efforts
127
Failure Through Fault of Principal 124 Purchaser Taking Title in Anothers Name
129
Effort Required of Broker
130
Sale Must Be on Employers Terms 131 General Statement 132 Purchaser Must Agree to Sellers Terms
141
All of Sellers Terms Must be
142
Acceptance by Owner of Different Terms
144
Brokers Commission if He is Procuring Cause Not Affected by Variation of Terms 136 Requirements as to Price
145
Increase of Price by Owner
146
Time of Performance
147
Liability of Broker for Failure to Sell
148
Broker Must Act in Good Faith 140 General Statement 141 Good Faith
150
Accepting Pay from or Acting for Other Party to the Transaction 143 Broker as a Principal in the Transaction or Making a Profit Therefrom Other T...
151
Broker Must Accept Largest Offer
152
When Refusal to Disclose Information is Not Bad Faith
154
Availability of Purchaser 146 General Statement 147 Ready and Willing to Purchase
155
Purchaser Not Ready and Willing
156
Procuring Person Who Takes Option
158
Change of Mind by Vendor 151 Disclosure of Purchaser
159
Waiver of Right to Disclosure of Purchaser
160
Financial Ability of Purchaser
161
When Financial Ability of Purchaser Need Not be Shown
162
Burden of Proof as to Financial Ability of Purchaser
164
Transaction Must Be Complete 156 General Statement 157 What Constitutes a Completed Transaction
166
General Rule as to Completeness of Transaction 159 All Details of Sale Must be Agreed Upon
167
Effect of Special Conditions on Completeness of Transaction
168
Failure to Contract
170
Modification of Terms 163 Options and Alternative Contracts
171
Abandonment by Broker
173
Failure of Principal to Complete 165 General Statement 166 The Brokers Obligation
175
General Rule as to Failure of Principal to Complete
176
Defective Title as Cause of Failure
177
Special Agreements as to Title
178
Causes of Failure
179
Failure of Customer to complete 171 General Statement 172 Rule as to Failure of Customer
181
Abandonment of Broker by Customer
182
Misrepresentations by Vendor
183
Commissions on Exchanges of Property 175 General Statement 176 Conflicting Decisions as to When Commissions are Earned 177 Commissions on...
185
Employment
186
Authority to Sell Does Not Give Authority to Exchange 180 Commissions from Both Sides 181 Rule when Contract has been Executed
187
Reason for Rule
189
Rule as Affected by Brokers Bad Faith
191
Commissions on Loans 184 General Statement 185 Commissions for Procuring Loan
193
as Affected by Failure of Principal
195
The Rule in Some of the Other States
196
General Statement of Rule
197
Further Statement of Rule
198
Failure to Complete on Account of Defects
200
Employment and Written Authority
201
Terms of Principal
202
194 Recovery on Breach by Principal
203
Amount of Commissions on Loan
204
Commissions on Leases 196 General Statement 197 When Brokers Obligations are Performed 198 General Requirements for Recovery of Commissi...
205
Liability of Tenant for Commissions 200 Amount of Commissions for Procuring Lease
207
Effect of Failure of Lease
208
Operation of Rule as to Failure of Lease
210
Who is Liable for Commissions 203 General Statement 204 The Employer is Usually Liable for Brokers Commissions
212
Promises to Pay Commissions
213
Liability of Persons Not Owning the Property
214
Trustees Executors and Guardians
217
Commissions from Purchaser
218
Purchasers Promise to Pay Commission
219
Broker Employed by Purchaser
220
Silence and Concealment 221 and Usage Defined
221
Amount of Compensation 211 General Statement 212 Commissions How Fixed
222
Agreed Compensation 214 Measure of Compensation
223
All in Excess of Fixed Price
224
Agreements for All in Excess of Fixed Price
225
Rule as to All in Excess of Fixed Price
226
when Vendor Intervenes
227
Compensation in Absence of Agreement
228
Custom as part of the Agreement
229
Ignorance of Custom
232
Proof of Custom
233
Commissions on Instalment Sales
248
PRINCIPAL AND AGENT Chapter XXIV Principals Relations to Agent 236 General Statement 237 Principal May Employ Several Brokers
250
Negotiations by Principal 239 Exclusive Agency
251
Intervention of Principal 241 after Brokers Failure or Termination of Authority
252
Rule when Brokers Efforts Fail
253
Agents Relations to Principal 243 General Statement 244 Agents Responsibility to Principal
255
Agent Must Act in Interest of Principal 246 Agents Duty of Faithful Service
256
Agent Must Not Exceed Authority
257
Disclose Information 249 Agents Power to Make and Endorse Negotiable Paper
258
Liability for Conversion of Money
259
Liability of Broker and Principal 251 General Statement 252 Misrepresentations by Brokers and Agents
260
When Vendor is Liable for Brokers Representations
261
Vendor Liable if He Accepts Proceeds
262
Principal Bound by Agents Representations
263
Acceptance of Proceeds Test of Liability
264
Fraud of Agent Pleading
265
Liability of Principal to Third Parties 258 General Statement 259 Scope of Chapter
266
Liability of Principal for Agents Wrongdoing 261 who Accepts Benefits of Agents Acts
267
for Agents Contracts
268
Undisclosed Principal
269
Notice to Agent as Notice to Principal
270
When Notice to Agent is Not Notice to Principal
271
Agents Knowledge Obtained in Other Transactions
273
Usury of Agent
274
Liability of Broker to Third Parties 288 General Statement 269 Scope of Chapter 270 Liability of Agent for Moneys Received
275
Misfeasance and Nonfeasance
277
Agent Liable for Improper Contract 273 Liability of the Agent on Unauthorized Contract
280
Ground of Agents Liability for Unauthorized Acts
282
Warranty of Authority to Make Contract
284
Reason of Liability of Agent for Unauthorized Acts
285
Liability of Agent Acting for Undisclosed Principal
287
Unlawful Intrusion on Real Property
289
FRAUD Chapter XXIX What Constitutes Fraud Acts Not Usually considered Fraudulent 279 General Statement 280 What is Fraud
291
Brokers Frauds
292
Requirements as to Disclosure
295
Fraudulent Concealment by the Purchaser
296
Promises Hopes
298
and False Representations
299
Opinions Expressions of Value
300
Assertion of Value Though False Not Ordinarily Fraudulent 289 Opinions Amounting to Affirmations of Fact
301
Assertions and Opinions Fraudulent in Intent
302
When Expression of Opinion is Fraudulent
303
What Constitutes Fraud Acts Usually considered Fraudulent 8 292 General Statement 293 Representation that Certain Price Had Been Offered
305
as to Value and Price Paid for Property
306
Representations as to Rentals
307
Improvements 297 Situation of Property 298 Mortgages on Property
308
Representation that Others Want the Property 300 Representations as to Title of Vendor
309
Negligence on Part of Vendee 301 General Statement
310
May Vendee Rely Upon Statements of Vendor ? 303 Vendor Not Ordinarily Required to Volunteer Information
311
Vendee Required to Exercise Caution
312
Degree of Caution Required by Vendee 306 Vendee Must Exercise Ordinary Caution
315
Negligence No Bar to Relief in Cases of Wilful Fraud
316
Waiver Rescission Remedies 308 General Statement 309 Waiver of the Fraud
318
What Constitutes Waiver of Fraud
319
Full Knowledge of Fraud Not Necessary to Waiver 312 Recitals in Contract Do Not Operate as Waiver of Fraud
320
Remedies for Fraud Measure of Damage
321
Action to Rescind 315 Liability on Contract in Case of Fraud
322
Criminal Frauds 321 General Statement 322 Obtaining Property by False Pretenses 323 Compelling Execution of Instrument
327
Definition and Punishment of Conspiracy
328
Corrupt Influencing of Agents Unlawful Agreements of Agent
329
PROCEDURE Chapter XXXIV Pleading 326 General Statement 327 Scope of Chapter
330
Complaint for Brokers Commissions
331
Methods of Pleading 330 Pleading Legal Effect 331 the Facts Constituting the Cause of Action
332
Action Based upon a Contract
334
Facts to be Stated
335
Full Performance and Excuse for Performance
337
Pleading Special Agreements
338
Matters of Defense
339
Pleading Acts Done by Agent
340
Interpleader 338 General Statement 339 Double Claims for Commission 340 Nature of Interpleader 341 Interpleader Permissible in Brokers Commis...
341
Interpleader Not a Universally Recognized Right
345
Method of Procedure
348
Interpleader When Action Brought in Court Having no Jurisdic tion to Interplead 345 Requisites of Interpleader
351
Interpleader Makes Actions at Law Equity Suits
352
CONTRACTS FOR SALE OF REAL ESTATE Chapter XXXVI Agreements Relating to the Sale of Real Estate 347 Method of Presentation 348 Natu...
353
Usual Methods of Concluding a Sale
354
Oral Agreements and Informal Written Agreements
356
Options on Real Estate
357
Essential Features of a Contract for Sale of Real Property
358
Parties to the Contract
359
Execution of Contract of Sale
360
Subject Matter of Contracts for Sale of Real Estate 355 Drafting Contract for Sale of Real Estate
363
Description of Property in Contracts of Sale
364
Statement as to Ownership in Adjacent Streets or Highways
366
of Gross or Acreage Price 359 Easements Negative Easements Encroachments
368
Leases of Property Held under Contract of Sale
370
Price and Manner of Payment
371
Suburban Property
373
New Buildings 364 Time for Delivery of Deed
375
Fixtures
376
Approval Clause
377
General Provisions
378
SCHEDULES AND FORMS Chapter XXXVIII Brokers Rules Schedules of Fees Charges and Commissions Form 1 Schedule of Charges and Commis...
380
Salesroom Fees and Commissions at Auctions New York City 3 Schedule of Fees Charges and Commissions Brooklyn N Y 4 Salesroom Fees and Co...
381
Rental and Management Charges Chicago
382
Charges for Ground Leases Chicago IlI
385
Loan Charges and Valuation Fees Chicago
386
Schedule of Fees Charges and Commissions Philadelphia
392
St Louis Mo 12 Rules and Regulations of the St Louis Real Estate Exchange 13 Schedule of Fees Charges and Commissions Boston Mass
393
Complaint for Recovery of Brokers Commissions Short First Form 47 Complaint for Recovery of Brokers Commissions Short Second Form
395
Commission Rate Schedule Jersey City N J 15 Schedule of Brokers Commissions Denver Colo 16 Schedule of Fees Charges and Commissions San Fr...
397
Forms of Contracts for Sale of Real Estate Form 17 Contract of Sale New York City Cook County
398
Chicago Ill 20 66 21 Philadelphia Pa 22 Boston Mass
410
Agreement for Sale of Property Baltimore Md
411
Contract of Sale New Jersey Short Form
412
Agents Sale Contract Chicago
414
Contract for Sale of Restricted Lots on Installment Plan Lots on Installment Plan
416
Assignment of Contract Informal
418
Contract for Exchange of Properties Chicago
419
Deed and Money
423
Assignment of Contract 34 Without Recourse
424
Demand for Performance of Contract of Sale
425
Miscellaneous Forms Form 36 Authority to Broker to Sell
426
Exclusive Agency Contract Chicago
427
Authority to Broker to Exchange Property
428
Salesmans Contract
429
Application for Loan New York City
431
Chicago Ill St Louis
433
Baltimore Md
435
Encroachment Agreement
436
Complaint for Recovery of Brokers Compensation Two Counts 49 Motion for Interpleader in New York City Municipal Court
442
Interpleader Supporting Affidavit 51 Order of Interpleader
444
Complaint after Interpleader
445
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Page 49 - AND seeing the multitudes, he went up into a mountain: and when he was set, his disciples came unto him: And he opened his mouth, and taught them, saying, Blessed are the poor in spirit: for theirs is the kingdom of heaven.
Page 32 - ... unless the agreement, upon which such action shall be brought or some memorandum or note thereof, shall be in writing, and signed by the party to be charged therewith, or some other person thereunto by him lawfully authorized.
Page 42 - ... any interest in or concerning them, or upon any agreement that is not to be performed within the space of one year from the making thereof, unless the agreement upon which such action shall be brought, or some memorandum or note thereof, shall be in writing and signed by the party to be charged therewith...
Page 31 - An agreement authorizing or employing an agent or broker to purchase or sell real estate for compensation, or a commission," is invalid, unless the same, or some note or memorandum thereof, be in writing and subscribed by the party to be charged, or his agent.21 23.
Page 406 - In witness whereof the said parties hereto have hereunto set their hands and seals.
Page 282 - Law of agency, where it is said: " wherever a party undertakes to do any act, as the agent of another, if he does not possess any authority from the principal therefor, or if he exceeds the authority delegated to him, he will be personally responsible therefor to the person with whom he is dealing for or on account of his principal.
Page 29 - The following contracts are invalid, unless the same, or some note or memorandum thereof, be in writing and subscribed by the party to be charged,' or by his agent: 1. An agreement that by its terms is not to be performed within a year from the making thereof; 2.
Page 329 - No agreement except to commit a felony upon the person of another, or to commit arson or burglary, amounts to a conspiracy, unless some act beside such agreement be done to effect the object thereof, by one or more of the parties to such agreement.
Page 34 - Where the agreement is to be performed upon a contingent, and it does not appear within the agreement that it is to be performed after the year, then a note in writing is not necessary, for the contingent might happen within the year; but where it appears by the whole tenor of the agreement that it is to be performed after the year, there a note is necessary.
Page 32 - No action shall be brought, whereby to charge any executor or administrator, upon any special promise, to answer damages out of his own estate; or whereby to charge the defendant, upon any special promise, to answer for the debt, default, or miscarriages of another person...

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