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MMLU / A nephew inherited a large parcel of unimproved land from his uncle. In need of…

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question

A nephew inherited a large parcel of unimproved land from his uncle. In need of cash, the nephew decided to sell the parcel. He contacted a real estate agent in the area about listing the parcel for sale. The nephew and the agent entered into a valid written contract whereby the agent promised to undertake best efforts to find a buyer for the parcel. The contract also provided that the agent was to be paid a commission of 5 percent on the gross sale price following the consummation of the sale and transfer of title. The agent succeeded in finding a buyer for the parcel. The agent notified the nephew that he had found a developer who wanted to purchase the parcel for 500,000.Theagenthandedthenephewarealestatesalescontract,signedbythedeveloper,inwhichthedeveloperagreedtopay500,000. The agent handed the nephew a real estate sales contract, signed by the developer, in which the developer agreed to pay 500,000 for the purchase of the parcel. The nephew then signed the agreement himself. However, before consummation of the sale and transfer of title, the developer, without cause, repudiated the contract. Despite the agent's insistence, the nephew refused to either sue the developer to enforce the land sale contract or pay the agent his commission. If the agent sues the nephew for breach of the brokerage agreement, which of the following, if anything, is the agent's proper measure of recovery?
Plain-text mathematical notation (without MathML)
A nephew inherited a large parcel of unimproved land from his uncle. In need of cash, the nephew decided to sell the parcel. He contacted a real estate agent in the area about listing the parcel for sale. The nephew and the agent entered into a valid written contract whereby the agent promised to undertake best efforts to find a buyer for the parcel. The contract also provided that the agent was to be paid a commission of 5 percent on the gross sale price following the consummation of the sale and transfer of title. The agent succeeded in finding a buyer for the parcel. The agent notified the nephew that he had found a developer who wanted to purchase the parcel for 500,000.Theagenthandedthenephewarealestatesalescontract,signedbythedeveloper,inwhichthedeveloperagreedtopay500,000 for the purchase of the parcel. The nephew then signed the agreement himself. However, before consummation of the sale and transfer of title, the developer, without cause, repudiated the contract. Despite the agent's insistence, the nephew refused to either sue the developer to enforce the land sale contract or pay the agent his commission. If the agent sues the nephew for breach of the brokerage agreement, which of the following, if anything, is the agent's proper measure of recovery?
Original LaTeX notation
A nephew inherited a large parcel of unimproved land from his uncle. In need of cash, the nephew decided to sell the parcel. He contacted a real estate agent in the area about listing the parcel for sale. The nephew and the agent entered into a valid written contract whereby the agent promised to undertake best efforts to find a buyer for the parcel. The contract also provided that the agent was to be paid a commission of 5 percent on the gross sale price following the consummation of the sale and transfer of title. The agent succeeded in finding a buyer for the parcel. The agent notified the nephew that he had found a developer who wanted to purchase the parcel for $500,000. The agent handed the nephew a real estate sales contract, signed by the developer, in which the developer agreed to pay $500,000 for the purchase of the parcel. The nephew then signed the agreement himself. However, before consummation of the sale and transfer of title, the developer, without cause, repudiated the contract. Despite the agent's insistence, the nephew refused to either sue the developer to enforce the land sale contract or pay the agent his commission. If the agent sues the nephew for breach of the brokerage agreement, which of the following, if anything, is the agent's proper measure of recovery?

choices

  1. Nothing, because as a third-party beneficiary of the contract between the nephew and the developer, the agent can enforce the contract only against the developer, but not against the nephew.
  2. Nothing, because the consummation condition has not been fulfilled, and the nephew's refusal to sue the developer will not excuse that condition.
  3. $25,000, or the commission equivalent of 5 percent on the sale of the property for$500,000, because fulfillment of the consummation condition was prevented by an event beyond the agent's control.
  4. $25,000, or the commission equivalent of 5 percent on the sale of the property for $500,000, because all conditions precedent to the nephew's duty to pay the commission were substantially fulfilled when the nephew and the developer entered into the land sale contract.

subject

professional_law

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Source and history

task_id
673f1d53-370a-5e66-b538-4b50635961da
task_key
all--test--673f1d53-370a-5e66-b538-4b50635961da
task_revision_id
1
config / split
all / test

Official source

initial import