[Download] "Rocco v. Depasquale v. Joseph App" by Appeals Court of Massachusetts " eBook PDF Kindle ePub Free

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eBook details

• Title: Rocco v. Depasquale v. Joseph App
• Author : Appeals Court of Massachusetts
• Release Date : January 14, 1989
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 58 KB

Description

The plaintiff, a real estate broker, sues for a ten percent commission on the sale of the defendant's commercial building and land in Wilmington to one Lepore. Lepore had previously bought the defendant's sanitation business and had been given a one-year ""option,"" which was in effect a right of first refusal, to purchase the property at market value. A month or two after the sale of the business, Lepore told the defendant that he thought he would not be in a financial position to purchase the property, so the defendant put the property on the market through the plaintiff. The plaintiff found a potential buyer, Mediplex of Massachusetts, Inc., which commenced negotiations with the defendant. It was settled relatively early that the purchase price was to be $600,000, but the parties haggled over the timing of payments, various conditions precedent to purchase, and so forth. The Discussions contemplated an option agreement and a later purchase and sale agreement. According to the plaintiff's affidavit in opposition to the defendant's motion for summary judgment, the defendant approved the option agreement. In context, this meant oral approval. It is not suggested that the defendant signed any agreement with Mediplex. At this point Lepore resurfaced and indicated he wished to exercise his option at the purchase price ($600,000) agreed upon between Mediplex and the defendant. This was the first time the plaintiff had been told of Lepore's involvement. The other parties thought it unlikely that Lepore could raise the purchase price, and the defendant, according to the plaintiff's affidavit, indicated that he would close the deal with Mediplex in that event. Lepore succeeded, however, in raising the purchase price. The defendant sold to Lepore and recognized no obligation to the plaintiff.

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