LAWS310 Hagues owned tract of land

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LAWS310 Hagues owned tract of land
(TCO 4) The Hagues owned a tract of land that they decided to…

 

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LAWS310 Hagues owned tract of land

LAWS310 Hagues owned tract of land

A+ LAWS 310 Final Exam

(TCO 4) The Hagues owned a tract of land that they decided to sell. They signed a listing agreement with Harvey Hilgendorf, a licensed real estate broker, which gave Hilgendorf the right to list the property for 12 months. According to the agreement, Hilgendorf would be paid a 6% commission if a bona fide buyer was found during the listing period. Five months later, the Hagues sent Hilgendorf a letter terminating the listing agreement, although Hilgendorf did not agree to the termination. One month later, Hilgendorf presented an offer to the Hagues from a buyer willing to purchase the property at full value. The Hagues ignored the offer and sold it themselves. Hilgendorf sued the Hagues for breach of the agency agreement.
Did the Hagues act ethically? How should the lawsuit be decided? (Points : 50)

Hagues & Hilgendorf signed a listing agreement, in which was stated that…