Confidential
Settlement – $75,000Facts
From 1991 to 1992, the defendant agent was the plaintiff's real estate agent. The defendant agent was employed by the defendant broker. The plaintiff alleged that the defendant agent sold property to the plaintiff and required two blank money orders, purportedly for the seller's divorce lawyers. The defendant agent allegedly cashed the money orders and failed to complete the sale while telling the plaintiff that he owned the property. The plaintiff maintained the property and made payments on the property for many months before he learned that the did not own it. The plaintiff brought this action against the defendant based on fraud, negligence, breach of fiduciary duty, respondeat superior and breach of contract theories to recovery.
Settlement Discussions
The settlement discussions were not disclosed.
Specials in Evidence
$_________ $_________
Damages
The plaintiff alleged that he sustained loss of (his) investment in the property, lost opportunities and out of pocket expenses totaling more than $150,000 as a result of defendant's conduct.
Injuries
The plaintiff alleged he sustained emotional distress as a result of the defendant's conduct.
Other Information
The settlement was reached approximately eight months after the case was filed. The defendant agent has left town and can not be located. The settlement with the defendant does not affect the fraud judgment prove-up against the defendant agent which will follow.
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