Nesbit v. Oakes

By JUDGE E. BALLARD BAKER

This case grows out of an agreement of December 1, 1978, between Harrison Nesbit, II, as General Agent, and Albert Oakes, IV, as Agent. Oakes was to be employed as insurance agent for Massachusetts Mutual Life Insurance in the general agency of Nesbit.

Under the Agreement, an Established Monthly Financing Level of $1,800.00 was set. For any month in which commissions, or payments from a commission reserve account, were less than $1,800.00, it was stated that:

there will be payable to the Agent ... a financing payment of such an amount that the total payments to the…