Oxford Business Brokers, Inc. v. Moriarty
Massachusetts Appellate Division
2014 Mass. App. Div. 130 (2014)
- Written by Eric Miller, JD
Facts
Mary Moriarty and TMJ Enterprises, Inc. (collectively, Moriarty) (defendants) sought to sell Moriarty’s liquor store. Oxford Business Brokers, Inc. (Oxford) (plaintiff) acted as broker for Moriarty. Oxford procured a buyer who was apparently ready, willing, and able to proceed with the transaction. Moriarty and the prospective buyer signed an offer to purchase in June 2005. The agreement provided for a 10 percent commission payable to Oxford upon closing, which was anticipated for September. However, the agreement was also conditioned upon the buyer obtaining financing by August. This did not occur, and the would-be buyer withdrew from the transaction. Oxford brought suit for payment of the commission. The trial judge found no evidence that the buyer had obtained financing or paid the full deposit as required by the agreement. Thus, the court found that Oxford had failed to satisfy the conditions of the agreement and was not entitled to the commission. Oxford appealed.
Rule of Law
Issue
Holding and Reasoning (Coven, J.)
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