(Download) "Moore And Co. V. T-A-L-L Inc." by Colorado Supreme Court " eBook PDF Kindle ePub Free
eBook details
- Title: Moore And Co. V. T-A-L-L Inc.
- Author : Colorado Supreme Court
- Release Date : January 29, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
We granted certiorari to review the decision of the court of appeals in TALL, Inc. v. Moore and Co., 765 P.2d 1039 (Colo. App. 1988), which held that a real estate brokerage company which has entered into an exclusive listing agreement with the seller and breaches its fiduciary duty to the seller forfeits the total amount of the commission paid by the seller, even though the broker, under the real estate contract of sale, is required to split the commission with the buyer (another real estate broker). We agree with the court of appeals that when, as here, a real estate broker breaches a fiduciary duty to the seller, the broker is not entitled to retain any part of the commission paid by the seller. Under the principle of unjust enrichment, however, we conclude that the broker is required to forfeit only the amount of commission retained by the broker under the contract of sale and not that part of the commission paid to the buyer or other parties. We accordingly affirm the judgment in part and reverse in part, and we remand the case to the court of appeals with directions to reinstate the judgment of the trial court.