Vous êtes sur la page 1sur 2

Final Project for Business Law You have recently been hired by Acme Realty Company, Inc.

of Wichita, Kansas, as a licensed real estate agent to take over the accounts of Gary Golfer, whose license was suspended due to misappropriation of client funds. Paul Plain from Plain Realty, LLC of Hutchinson has made a request to recover one half of Gary Golfers commission from the sale of the Deerhorn Ranch to Marilyn Moon. After reviewing the relevant account files and speaking to Marilyn Moon and Paul Plain you have determined the following facts: 1. In the late summer of 2010, Walt Weaver of Yoder, Kansas, listed his ranch for sale in a non-exclusive agreement with Plain Realty, fixed the sale price at $1,000,000 and agreed with Paul Plain the realtor's commission would be $20,000. The ranch is also known as the Weaver ranch, the Powers ranch, and as the Deerhorn ranch. 2. On October 1, 2010, Marilyn Moon entered into an agency agreement with Acme Realty Company whereby Moon agreed to allow Acme to act as her exclusive agent in purchasing farm property. The agreement established a 2% commission fee of the purchase price for any property they assisted her in buying, but did not specifically authorize the sharing of fees with outside parties. 3. On October 15, 2010, Golfer wrote a letter to Plain Realty stating he had three buyers for ranches and described in general terms what his buyers wanted and requested Plain to write a full description and price of any places he had available and suggested a division of the commission. 4. On October 22, 2010, Plain replied to Golfer's letter stating he would be glad to work with Golfer on a fifty-fifty basis by dividing the commission equally, and gave Golfer a full description of the Weaver ranch, less its name and legal description. 5. On October 24, 2010, Golfer wrote Plain accepting Plain's terms and suggested a trip by his buyer to see the ranch. 6. On October 26, 2010, Plain met Golfer and Marilyn Moon at the Plain Realty Office in Hutchinson. At Golfer's request, Paul Plain gave him and Moon a more complete description of the Weaver ranch and for the first time provided the name of the owner. Golfer stated he knew of the place and that Moon would not be interested in it as the place had no water, the pastures were spotty and it would not be satisfactory to Moon. Plain then described to Golfer and Moon all the improvements recently made at the ranch; how Walt Weaver had brought in electricity, built ponds, sprayed the pasture and fully described the present condition of the ranch, and suggested they go and look at it, after which Golfer stated that Moon would not be interested. Prior to the conversation between the three of them Golfer had

not mentioned the Weaver ranch to Moon either as the Weaver ranch or by any other name. Immediately after Golfer and Moon left Plain Realty they drove directly to the Weaver ranch, viewed it, and thereafter made an offer directly to Walt Weaver for $1,000,000. Weaver accepted and Moon paid Weaver $1,000,000 and paid Acme Realty their commission of $20,000. 7. In the spring of 2009 Gary Golfer had contacted Walt Weaver about selling the ranch, but Weaver declined to list his ranch for sale with Acme Realty Company. Using the above facts and the knowledge you have gained from this course, write a Memorandum to your supervisor at Acme Realty Company detailing your recommendation regarding Plain Realty s request for a portion of the commission. Include in your memorandum the factors and legal concepts utilized in reaching your conclusion. Additionally, list in detail Acme Realty Companys responsibility, if any, to the various parties to the real estate transaction in question.