[Download] "Richard W. Hanks v. L. E. Hamilton" by Fourth District Court of Appeal of Florida ~ eBook PDF Kindle ePub Free
eBook details
- Title: Richard W. Hanks v. L. E. Hamilton
- Author : Fourth District Court of Appeal of Florida
- Release Date : January 18, 1976
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
The appellant (plaintiff below) has appealed an adverse ruling in a non-jury trial concerning the commission of a registered real estate broker. Factually, Hi-Acres Groves, Inc., was the owner of approximately 134 acres of land located at the southeast corner of Interstate Highway 4 and State Road 436 in Seminole County. Desiring to sell said property it was placed on the market and appellee, Hamilton Realty, produced a purchaser (L. E. Hamilton, Jr.) with the broker to receive a commission of $134,310.30. Appellant and appellees agreed in writing that contingent upon the consummation of the sale of said property resulting in the brokers receiving said commission that it would be delivered to a closing agent from which appellant would be paid $44,000.00 for services rendered. Other agreements were prepared authorizing James K. Byrd, a registered salesman, as cooperating salesman to receive one third of the commission. Said agreements resulted in fee-splitting with unregistered people in the real estate profession. This is absolutely unlawful and the establishment of a fund out of the commissions earned by a broker appears to be a device to split the fee and circumvent the law. This is the very thing that the law is trying to avoid, sec. 475.41, F.S., and is against public policy. Bradley v. Banks, 260 So.2d 256 (Fla.App.1972).