Holloway v. McArthur

Minor W. Millwee, Justice.

On February 18, 1953, appellant executed an “Exclusive Listing Contract” for a period of three months with appellee,, a Little Rock real estate broker, for the sale of appellant’s home in Cammack Village, Arkansas. Appellant was to pay appellee a commission of 5% of the selling price of $9,000. Other terms of the listing contract were that appellant should receive cash for his equity in the property and the buyer assume the balance of $6,572.35 owing Prudential Insurance Company, mortgagee.

On May 18, 1953, the last day of the three months term, appellee submitted to…