Legal Question in Business Law in New Jersey

Contract Law

I am a Business Broker and after several meetings with a client, they signed a listing agreement with my company for their business. A day or two later they sent me a letter indicating that they want to cancel and withdraw the listing to sign a new listing with a ''friend.'' My contract specifically states that any cancellation and withdrawal will result in my commission payable immediately. There isn�t any wordage in the contract such as a 3 day review or any ''cooling off'' period. The commission isn't much, but I feel cheated. Do I have a leg to stand on if I want to pursue my commission? FYI, no real estate is involved. Thank You.


Asked on 1/21/09, 4:31 pm

2 Answers from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Contract Law

If you are wise, you will let these people go. They will only complain about you and cause untold misery. In the end, you probably will spend a lot of time and get nothing but trouble.

The above is the smart answer. Legally, depending upon the wording of you contract, it may be legally enforceable.

I hope this helps!

Ron Cappuccio

www.BusinessEsq.com

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Answered on 1/21/09, 6:53 pm
John Corbett Corbett Law Firm LLC

Re: Contract Law

If the contract has been properly drafted, you should be entitled to you commission.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 1/21/09, 10:38 pm


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