Facts

Bryan Keith, and his company Rancho Pacific Group LLC, signed a listing agreement with Equitarian Inc., a brokerage owned by Ken Shuttleworth, for May 2005 to May 2006. A dispute regarding a loan and commissions subsequently arose.

PLAINTIFF'S CONTENTIONS:
Keith and Rancho Pacific filed suit against Shuttleworth and Equitarian, alleging breach of promissory note and money had and received. Keith contended that he loaned Shuttleworth $58,750, documented in a promissory note and two escrow instructions, which were not returned despite his demands.

DEFENDANT'S CONTENTIONS:
Shuttleworth and Equitarian contended that Shuttleworth made several written demands for his commission from Feb. through May 2007, and that the $58,750 was not a loan, but partial payment, or alternatively a settlement of a commission that was due, on a commission. Shuttleworth argued economic duress against Keith's attempt to enforce the promissory note. Shuttleworth and Equitarian filed a cross claim, alleging breach of the agreement, misrepresentation, and unpaid commission.

Damages

Keith and Rancho Pacific sought $58,750 for the loan amount, plus interest, attorney fees, and costs. Shuttleworth and Equitarian sought $366,000 in unpaid commission, attorney fees and costs.

Result

The court found in favor of Keith and Rancho Pacific, awarding them $71,721.49, plus attorney fees and costs for a total final judgment of $310,098.

Other Information

Defendants are appealing the judgment and will file their Appellant's Opening Brief on May 31, 2011.