Gerig v. Russ

The question on this appeal is whether the sellers or the purchasers of real property shall bear the loss of moneys paid by the purchasers to a real estate broker, an agent of the sellers, who embezzled the same. The trial court entered a decree in favor of the purchasers, from which decree the sellers appeal.

The facts are as follows: The defendants, being the owners of approximately 103 acres of land in Marion county, gave the Larsen Home & Loan Company, a real estate broker, an exclusive listing contract for the sale of said property at a price of $23,500. The contract reads as follows:

“Sale…