Sentences with phrase «cause of the successful transaction»

The contract is formed only when accepted by the cooperating broker, and acceptance occurs only through performance as the procuring cause of the successful transaction.

Not exact matches

Procuring cause is defined as the «uninterrupted series of causal events which results in a successful transaction.»

Abrams Realty Corp. v. Elo (279 A.D. 2d 261)- trial evidence establishes that broker was the procuring cause of sale of property; brokerage agreement was not unenforceable for its failure to specify rate at which broker's commission would be computed since it was clear that broker did not agree to work without compensation and that the parties understood that the broker would be compensated at the prevailing, normal and accepted rates; trial court properly rejected attempt to evade obligation to pay broker's commission by endeavoring to characterize the transaction as merely the assignment of a successful bid

Procuring Cause is defined as the uninterrupted series of events that leads to a successful transaction.

While a number of definitions of procuring cause exist, and a myriad of factors may ultimately enter into any determination of procuring cause, for purposes of arbitration conducted by Boards and Associations of REALTORS ®, procuring cause in broker to broker disputes can be readily understood as the uninterrupted series of causal events which results in the successful transaction.