Business Consulting Services v. Wicks
Iowa Supreme Court
703 N.W.2d 427 (2005)
Joy Jones, a business broker for Busines Consulting Services, Inc., doing business as Hawkeye (plaintiff), learned from David Gutfreund that Leroy Wicks (defendant) wanted to sell his business, which Gutfreund ultimately bought. When Jones called Wicks, he agreed to a nonexclusive listing agreement with an extension clause triggering a 10 percent commission if anyone Hawkeye referred to Wicks bought the business within a year after the agreement expired. Jones did not “show” the business but claimed that she encouraged Gutfreund and another buyer to bid and met with Gutfreund for 45 minutes to discuss confidentiality agreements. Hawkeye sent Wicks a letter reiterating the extension-clause terms and stating that Wicks would owe a commission if the business sold within a year to one of six listed buyers, including Gutfreund. Gutfreund bought the business, and Hawkeye sued Wicks for the commission. The trial court ruled for Hawkeye, and Wicks appealed, arguing that Hawkeye did not procure the sale.
Rule of Law
Holding and Reasoning (Per curiam)
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