Colorado City Development Co. v. Jones-Healy Realty, Inc.

We granted certiorari to review Jones-Healy Realty, Inc. v. Colorado City Development Co., 39 Colo. App. 329, 568 P.2d 88 (1977). We reverse.

Colorado City Development Company (CCDC), petitioner, is a wholly-owned subsidiary of Great Western United Corp. (GWU). In February of 1973, GWU contemplated selling the 11,000-acre ranch (the 3-R Ranch) which CCDC owned. GWU’s personnel advised Jones-Healy Realty, Inc. (Jones-Healy), respondent, that it would entertain offers to purchase the 3-R Ranch at $220 per acre cash and would pay a 10% brokerage commission. If a listing existed, the listing was…