Drake v. Hosley

713 P.2d 1203 (1986)

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Nature of the Case

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Facts

D signed an exclusive listing agreement with P. The agreement provided for payment of a ten percent commission if, during the period of the listing agreement, 1) P located a buyer 'willing and able to purchase at the terms set by the seller,' or 2) the seller entered into a 'binding sale' during the term set by the seller. P found three buyers. D signed a purchase and sale agreement. The buyers also signed the agreement. The agreement provided that closing would occur 'within 10 days of clear title' and 'ASAP, 1984.' P and D also signed an addendum wherein D agreed to pay D a 10% commission. D’s attorney discovered the only encumbrance was a judgment awarded to D’s ex-wife. D’s attorney negotiated a discount if the monies were paid before April 11^th. P was contacted, and the attorney said that P agreed to close by the 11^th. P claims he only agreed to close as soon as possible. P stated the buyers could not close until May 1. The attorney advised D to stop the sale and withdrew the offer to sell. D sold the land to others on the 12^th of April. P also proffered checks for the down payment, and they were refused. P sued D for the 10% commission. The court granted summary judgment and D appealed.