Independence Development, Inc. v. American Arbitration Ass'n

OPINION OF THE COURT

EAGEN, Justice.

On June 2, 1970, Lieberman, Inc. [Lieberman] entered into a stock purchase option agreement with independence Development, Inc. [Independence] and Middletown Commons, Inc. [Middletown].1 2Lieberman was a licensed real estate broker and the agreement, which designated Lieberman as the “Buyer”,3 set forth that Lieberman was acting as agent for an undisclosed principal and authorized Lieberman to assign its interest under the agreement. The agreement further provided that certain real estate commissions, due upon the exercise of the option, were to be divided…