Biscoe v. Deming Investment Co.
Supreme Court of Arkansas
Appeal from Prairie Chancery Court; John M. Elliott, Chancellor; 1. The contract sned on was void for want of mutuality. 96 Ark. 184-5; 21 So. 233; 44 N. W. 669; 102 Ark. 621-624; 100 Id. 510-14; 124 Id. 354-9; 30 Id. 186-194. 2. Appellee did not procure a lender on the terms required by the contract. 4 R. C. L. 303. Before a broker is entitled to his commission, he must produce a purchaser ready, able and willing to purchase and able to purchase on the terms and price…
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Appeal from Prairie Chancery Court; John M. Elliott, Chancellor; 1. The contract sned on was void for want of mutuality. 96 Ark. 184-5; 21 So. 233; 44 N. W. 669; 102 Ark. 621-624; 100 Id. 510-14; 124 Id. 354-9; 30 Id. 186-194. 2. Appellee did not procure a lender on the terms required by the contract. 4 R. C. L. 303. Before a broker is entitled to his commission, he must produce a purchaser ready, able and willing to purchase and able to purchase on the terms and price designated by the principal. 27 Pac. 882-3; 4 So. 180; 9 N.- W. 784; 1101 N. W. 719-21; 83 N. Y. 378-382-3; 92 N. W. 413. 3.…
1Opinion of the CourtWood, J.
During the year 1915 the Deming Investment Company, hereafter called appellee, was engaged in the business of negotiating loans on farm lands in Arkansas. On the 8th day of March, 1915, John E. Biscoe and Elizabeth- Biscoe, hereafter called appellants, executed and acknowledged an instrument addressed to the appel-lee, the material parts of which are as follows:
“I hereby appoint you my agent to negotiate and procure for me a loan of $70,000 on seven years’ time, bearing interest at the rate of six per cent, per annum, payable semi-annually on the first day of November and May in each year to…
2Cases cited5 opinions
- El Dorado Ice & Planing Mill Co. v. KinardSupreme Court of Arkansas · 1910
- Murray v. MillerSupreme Court of Arkansas · 1914
- Eustice v. MeytrottSupreme Court of Arkansas · 1911
- Grayling Lumber Co. v. HemingwaySupreme Court of Arkansas · 1916
- Poston v. HallSupreme Court of Arkansas · 1910
3Cited by3 opinions
- Abbott v. Arkansas Utilities Co.Court of Appeals for the Eighth Circuit · 1948
- Crawford v. General Contract CorporationDistrict Court, W.D. Arkansas · 1959
- Oliver v. Dent, AdministratorSupreme Court of Arkansas · 1944