Edward T. Byrd & Co. v. WPSC Venture I

Edward T. Byrd & Company, Inc. (“Byrd”), sued WPSC Venture I (“WPSC”) under theories of breach of contract and quantum meruit to recover a mortgage brokerage fee it allegedly earned for obtaining a $21 million loan commitment to refinance WPSC’s existing mortgage on a shopping center. On cross-motions for summary judgment, Byrd contended that WPSC breached the contract by failing to pay the fee despite the loan’s failure to close, and WPSC countered that no fee was payable because the application it unilaterally signed did not meet the requirements of the Mortgage Brokerage and Mortgage…