Khalaf v. Politis

QUINN, Associate Judge.

Appellant, one of two shareholders,, held ninety percent of the stock in Sheherazade, Inc., owner of the Omar Khayyam restaurant. He engaged appellee Politis, a licensed real estate broker in the District of Columbia, to locate a buyer for the restaurant under an exclusive listing arrangement which provided a ten percent commission for negotiating the transaction. Subsequently, Politis produced a Mr. Auger who entered into a “sales and purchasing agreement” promising to pay $55,000 for the business, conditioned upon a transfer to him of all the Sheherazade stock. Under…