Felt v. L. B. Frederick Co.

DOOLING, J.

Appellants filed a complaint against respondents Frederick and Hill and others upon an alleged contract for the purchase of certain real and personal property. The action went to trial against Frederick and Hill alone and judgment was entered in favor of these defendants.

Respondent Frederick is a real estate broker and respondent Hill is his salesman. Frederick had acquired an option to purchase a rooming house for $8,000 and an option to purchase the furniture therein, which was owned by the tenant, for $4,250. After negotiations between Hill and appellants resulting in an oral offer by appellants to purchase this real and personal property for $14,000 Hill presented to them for their signature and they signed a document which already bore the signature of Hill. The controversy centers around this document, the appellants contending that it was a completed

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contract and the respondents claiming that it was a mere offer later rejected by Frederick.

This document was a printed form designed to be used for the receipt of an offer and deposit from an intending buyer by the broker through his salesman for an owner of property who by its later acceptance evidenced by the owner’s signature in a blank space provided therefor would ripen into a contract of purchase and sale between owner and buyer. So far as material to an understanding of the questions here presented it reads (the words added to the printed form appearing in italics) :

" Office of L. B. Frederick

“Received from

William, G. Felt and Mae D. Felt his wife .

. .

Two hundred Dollars

... as deposit and part purchase price on the following property .. .

“The full purchase price being

$14,000.00

to be paid as follows . . .

The balance of cash to be paid, and all documents necessary to complete the transaction to be executed in accordance with this contract not later than April 15,1945.