Turner refuses to pay Adams the $10,000 as promised. Parker refuses to pay Adams the 6 percent commission. In an action by Adams against Parker and Turner, what judgment?
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Parker, the owner of certain unimproved real estate in Chicago, employed Adams, a real estate agent, to sell the property for a price of $250,000 or more and agreed to pay Adams a commission of 6 percent for making a sale. Adams negotiated with Turner, who was interested in the property and willing to pay as much as $280,000 for it. Adams made an agreement with Turner that if Adams could obtain Parker’s signature to a contract to sell the property to Turner for $250,000, Turner would pay Adams a bonus of $10,000. Adams prepared and Parker and Turner signed a contract for the sale of the property to Turner for $250,000. Turner refuses to pay Adams the $10,000 as promised. Parker refuses to pay Adams the 6 percent commission. In an action by Adams against Parker and Turner, what judgment? |
Explanation
Individual A was not a loyal agent since Individual A tried to minimize their own benefit by selling the principal's property at a lower rate to Individual T. This was so that Individual A could get commission from Individual P as well as Individual T. Individual A was under an obligation to obtain maximum benefits for the principal but Individual A intentionally reduced the benefits for the principal and that is why, the judgment of the court is going tobe against Individual A and Individual A is not going to get the commission from either of the parties.
Verified Answer
The decision of the court is going tobe against Individual A since Individual A was not a loyal agent to the principal, Individual P. Individual A did not tryto obtain maximum benefits for the principal. Instead Individual A tried to gain personal benefits from the contract of selling the property.
