Melvin v. Aldridge

Citations

• 81 Md. 650
• 32 A. 389
• 1895 Md. LEXIS 86

Syllabus

<p>Obection to the Jurisdiction — Accounting between Principal and Agent —Commissions of Real Estate Agents on Sales of Property Payable in Instalments — Interest.</p> <p>A bill in equity was filed for an injunction, the rescission of a contract, and a discovery and account of money received by the defendants, as agents of the plaintiffs, to sell certain lands. The defendants, while denying the material allegations of the bill in their answer, professed their readiness to account. The bill was dismissed as to all the relief asked for except an accounting. No special exception . was filed to the jurisdiction of equity to decree payment of the sum due, but the same was made in the argument below. Held, that this objection to the jurisdiction could not be availed of on appeal.</p> <p>The contract in this case provided that the defendants, as agents of the owners of a tract of land, should lay out, develop and sell the same in lots and be entitled to certain commissions on sales. Some of the lots were sold under contracts by which the purchase money was made payable in instalments. Held,</p> <p>1st. That the agents are not entitled to the full commission on the entire price of a lot out of the first instalment collected by them, but are entitled only to commissions on the instalments as paid from time to time.</p> <p>2nd. That when purchasers renounced their contracts and forfeited instalments already paid, the agents are not entitled to the whole of such instalments.</p> <p>3rd. That the agents are liable for interest on all amounts collected by them and not paid over promptly to their principals, less their commissions.</p> <p>4th. That the agents are not entitled to credit for money loaned by them to one of the owners, that being a transaction in which his co-owners were not concerned.</p> <p>The contract in the above case also provided that, until a certain mortgage incumbrance on the land should be paid, the money arising from the sale of lots should be applied by