Sunday, July 02, 2006

double commissions

Litigation sometimes arises involving the agents' commission of business agents and real estate agents. How does this arise? As put by a leading retired QC, Chester Porter: One often hears of people say, "Get lots of agents to sell your property." This advice can lead to trouble. After the sale, two agents each claim commission and often the vendor is in the purchaser's hands as to who was the effective cause of the sale. Some owners have finished up paying two commissions. Porter, who was a leading criminal barrister, says he found these cases difficult.

He makes another observation about the smart, small shopkeeper who kept three sets of books. The first was correct and showed the true position of the business. The second was for the Commission for Taxation and showed a somewhat reduced profit. The third showed a vastly improved profit and was for the prospective purchaser.

Now surely that doesn't happen.

Source Chester Porter - Walking on Water : A life in the Law

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