Drake v. Hosley
Alaska Supreme Court
713 P.2d 1203 (1986)
Drake (defendant) gave Hosley (plaintiff) an exclusive listing to sell his land, promising a 10% commission if Hosley found a willing, able buyer on Drake's terms. Hosley found buyers, and all parties signed a purchase agreement requiring closing within ten days of clear title, plus an addendum confirming the 10% commission. After a title report cleared in early April, Drake's attorney pushed for an accelerated closing date to meet a separate settlement deadline with Drake's ex-wife; when the buyers said they couldn't close that fast and wouldn't have the down payment until later, Drake withdrew his offer to sell and sold the land to different buyers the very next day - the same day Hosley tried to submit the original buyers' down payment. Hosley sued for his commission, and the trial court granted him summary judgment.
Whether a broker is traditionally entitled to a commission once he finds a buyer willing and able to purchase the property on the seller's terms, even if the sale itself is never completed.