94 Iowa 611 | Iowa | 1895
I. Plaintiff being the owner of said three hundred and nineteen acres of land, and desiring to sell the same, did, about September 8, 1891, employ the defendant, a real-estate agent, to sell said land for her at the highest obtainable price, and agreed to pay him two per cent, commission on the price obtained. About the twelfth day of October, 1891, defendant submitted to plaintiff a proposition in writing as follows: “Mate contract to W. E. Pound or Geo. W. Lee. Proposition of W. E. Pound to Geo. W. Lee for the S. W. 27 and S. E. 28, township 94, range 27, Iowa, $20 per acre for 319 acres, — for 320 acres, less 1 acre for schoolhouse purposes, viz.: $100 or more upon signing contract; $500 or more by or before January 1, 1892; $1,400 or more by or before March 1,1892; balance, if any, due in two years. 7 per cent, annual interest. Will assume $2,500.00 mortgage against farm, to be deducted from the amount received. To receive warranty deed when $2,000.00 has been paid; balance, if any, secured by mortgage against said farm.” October 7, 1892, plaintiff and her husband, C. E. Fisher, and the defendant, George W. Lee, executed a written contract whereby the plaintiff agreed to sell and convey to defendant said land in consideration of six thousand three hundred
II. It is a familiar and conceded principle of law that “an agent for the sale of property may, with his principal’s consent, purchase the subject-matter of the agency, where the facts are fully disclosed, and the agent acts in good faith, taking no advantage of his situation.” Green v. Peeso, 92 Iowa, 261. Defendant, as agent of plaintiff, showed this land to Mr. Pound, of Illinois, who was in search of a farm to purchase. Defendant testifies that, as Mr. Pound was leaving for home, he said “he was rather well pleased with the Fisher farm, and from what he could gather in our conversation up there, and what we had talked of it here, he thought Mr. Fisher was quite anxious to sell, and he said: ‘I most believe there is speculation in 'that. I believe I would venture it, any way, if I could buy it cheap enough.’ He says, ‘Do you suppose that can be bought for $6,000?’ ‘Why,’ I says, ‘I don’t know. I hardly think so.’ ” Defendant further states,
We understand tart in some way the transaction, as between the defendant and Mr. Pound, now deceased, was canceled, and 'that the only parties interested are the plaintiff and her husband, and the defendant, Lee,