Magoba Management, Inc. v. Central Zone Property Corp.

The pertinent allegations of the complaint are substantially as follows: The plaintiff and the defendant H. Clayton Smith & Co., Inc. (both duly licensed real estate brokers) entered into an agreement to act as cobrokers and to use their joint efforts to obtain a purchaser for certain specific real estate in New York City, and they agreed to share equally the brokerage commissions payable for procuring such a purchaser. Thereafter, ‘ ‘ Smith, in its own name, but, in fact, as co-broker with plaintiff, entered into an agreement with [the defendant] Central Zone [Property Corporation] whereby…