King v. Bird

In March, 1920, plaintiff, as broker, negotiated a sale of property at Pontiac, known as the National block, .to defendants at the price of $382,500. Preliminary contract was executed and $10,000 paid thereon, followed by a formal land contract with additional down payment of $40,000. Defendants had difficulty in obtaining the $40,000 and plaintiff agreed to turn over to them his commission, or $10,000 of it, when received. Upon execution of the formal contract, he collected his commission and paid $10,000 to defendants. They gave him a receipt reading, “Received of Fred G. King, $10,000, as…