Answer

Relevant Facts?

Procedural History?

Legal Issue?

Court's Holding?

Court's Reasoning?

In March, William Tackaberry, a real estate agent for the firm of Weichert Co. Realtors (Weichert), informed Thomas Ryan, a local developer, that he knew of property Ryan might be interested in purchasing. Ryan indicated he was interested in knowing more about the property. Tackaberry disclosed the property's identity and the seller's proposed price. Tackaberry also stated that the purchaser would have to pay Weichert a 10 percent commission. Tackaberry met with the property owner and gathered information concerning the property's current leases, income, expenses, and development plans. Tackaberry also collected tax and zoning documents relevant to the property. In a face-to-face meeting on April 4, Tackaberry gave Ryan the data he had gathered and presented Ryan with a letter calling for a 10 percent finder's fee to be paid to Weichert by Ryan upon "successfully completing and closing of title." Ryan refused to agree to the 10 percent figure during this meeting. Tackaberry arranged a meeting, held three days later, where Ryan contracted with the owner to buy the land. Ryan refused, however, to pay the 10 percent finder's fee to Weichert. What, if anything, is Weichert entitled to recover from Ryan? Explain