I was told about the details of your situation. I am aware that you want to bring a lawsuit against Sam salesperson and the seller. I have done some research and gathered the following information for you. The ethical issues involved in your situation include violation of full disclosure, unfair practices, and breech of contract. Sam Salesperson failed to disclose to the seller that you requested an extension of the earnest money payment, and did not tell you this. Sam Salesperson Intentionally let time lapse to void your contract in order to accept a higher offer.
There are several causes of action in your case. You may bring action against the seller and Sam Salesperson based on a breach of contract. Because you had an agreement with the seller. There was a lack of communication between the salesperson and seller. There are grounds for fraud here based on Sam Salesperson not Intending to let the timeline for the earnest payment lapse. You also have grounds for negligent misrepresentation based on a breach of fiduciary duty to you.
You may request that the judge rescind the purchase contract as you had a contract with salesperson and seller before the higher offer was discovered. You had a contract agreement with the leer to purchase real estate which was breached when the seller accepted the higher offer. You also had a contract with the salesperson which was breached when you failed to pay the earnest money by the deadline. Even though Sam salesperson failed to notify the seller of your request for extension you are the one who breached the contract since there was never a stipulation extending the time for you to pay. A contract is created at law when there is a mutual exchange of promises upon reasonably understandable terms and conditions. A contract does not have to be reduced to writing in order to be enforceable" (ass) http://www. Us. Deed/counsel/ brief/contractions. HTML Remedies: You may request damages which would be measured by the difference in the price stated in your contract to buy the real estate and the price of the higher price it was sold for.
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Rescission and restitution in order to cancel the contract with the subsequent buyer and pay restitution as punitive damages for time lost. Elements of a contract: Offer, acceptance, and consideration. The breach of contract is when one party Involved failed to fully or adequately perform the duty the contract provided. RE-28-1 101 . Dunes to Client A. A licensee owes a fiduciary duty to the client and shall protect and promote the client's Interests. The licensee shall also deal fairly with all other parties to a transaction.
Barbara buyer memo By fruitychick2000 the earnest money payment, and did not tell you this. Sam Salesperson intentionally are grounds for fraud here based on Sam Salesperson not intending to let the the Judge rescind the purchase contract as you had a contract with salesperson and involved failed to fully or adequately perform the duty the contract provided. RE-28-1101. Dunes to Client client's interests. The licensee shall also deal fairly with all other parties to a
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