Drake v. Wickwire,

795 P.2d 195 (1990)

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Nature of the Case

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Facts

Drake signed an exclusive listing agreement with Holsey to sell some land Drake owned in North Pole, Alaska. The agreement called for a ten percent commission if the purchase terms set by seller were met and seller entered into a binding sales during the term listed in the contract. Holsey found a group of three buyers and Drake signed a purchase and sale agreement to sell the land to them at a specified price and terms. In the sales contract, the Holsey deal was reiterated. The transaction was to close in ten days after receipt of good title. The title report was received and listed a judgment in favor of Drakes ex-wife as the sole encumbrance on the title. Hosley inquired of Drake's attorney, Wickwire, and was told that the judgment would be paid with the case received at closing. Wickwire called Holsey and stated that Drake wanted the deal closed by April 11 as a negotiated settlement had been reached with Drake's ex-wife. Wickwire claims that Holsey agreed to the closing date. Holsey denies that and states that he merely said he would try to close the transaction as soon as possible. Holsey then learned that the payment deadline for Drake's ex-wife’s settlement had been extended to the end of the month. Holsey then told Wickwire that the sale couldn't close before May 1 as his buyers did not have the money until then. Wickwire told Holsey that he would advise Drake to cancel the deal as the buyers could not perform. The agreement called for closing to occur within ten days of clear title and ASAP 1984. A letter was then mailed withdrawing the offer to sell. Holsey got the letter on April 18, and the property was sold on April 12. On April 12, Holsey went to Wickwire's office to close the sale and submitted checks from the buyers for $33,000 for the down payment. Wickwire refused the checks telling Holsey that another buyer has purchased the property. Holsey sued Drake for the real estate commission. The trial court granted summary judgment to Holsey; Holsey was not the agent for the buyers and could not change the closing date from April 12-13 to April 11 as Drake contended. Drake (P) sued Wickwire (D) for malpractice, and the trial court ruled for Wickwire.