Harris, owner of certain land known as Red Bank, mailed a letter to Byron, a real estate
Question:
Harris, owner of certain land known as Red Bank, mailed a letter to Byron, a real estate broker in City X, stating: “I have been thinking of selling Red Bank. I have never met you, but a friend has advised me that you are an industrious and honest real estate broker. I therefore employ you to find a purchaser for Red Bank at a price of $35,000.” Ten days after receiving the letter, Byron mailed the following reply to Harris: “Acting pursuant to your recent letter requesting me to find a purchaser for Red Bank, this is to advise that I have sold the property to Sims for $35,000. I enclose your copy of the contract of sale signed by Sims. Your name was signed to the contract by me as your agent.” Is Harris obligated to convey Red Bank to Sims?
BrokerA broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...
Step by Step Answer:
Essentials of Business Law and the Legal Environment
ISBN: 978-0324303957
9th edition
Authors: Richard A. Mann, Barry S. Roberts