A broker argued that there were no specific duties for a buyer’s representative and the parties didn’t have a written agreement. However, the jury and later the appeals court agreed that continued conversations between buyer and broker demonstrated that the relationship still existed.
The U.S. Court of Appeals for the First Circuit has found that a creditor violated federal bankruptcy law when it threatened to file a complaint with the state real estate commission if the broker did not agree to settle the creditor’s debt during bankruptcy proceedings.
The U.S. Supreme Court has affirmed the constitutionality of most of the provisions of the Bipartisan Campaign Reform Act of 2002. The ruling is expected to have only a modest impact on the fundraising and advocacy activities of the REALTORS® Political Action Committee (RPAC).
Because a taxpayer couldn’t substantiate that her cell phone service was used for business, a tax court has supported the Internal Revenue Service’s decision to disallow the cost of this service as a business expense.
The Third District Court of Appeal of Florida reversed an earlier court decision and denied a broker a commission from the sale of land to a school district. The court determined that a contingency fee contained in the listing violated the state’s public policy forbidding contingency fees for property purchased with public funds.
The U.S. District Court for the Northern District of Florida has ruled that a commercial broker was not entitled to a lease commission on a new lease with a former subtenant after the initial lease on which it was paid a commission had expired.