Surfside Funding Corporation v. Walsh
Published: Mar. 21, 1998 | Result Date: Feb. 27, 1998 | Filing Date: Jan. 1, 1900 |Case number: DUM0001617 Arbitration – $90,577
Arbitrator
Court
American Arbitration Association
Attorneys
Claimant
Respondent
Facts
In September 1996, claimant Surfside Funding Corporation, a loan broker, entered into two identical contracts with respondents Walsh wherein Surfside was to procure for respondents two large real estate loans. Surfside procured lenders but respondents did not go through with the loans. The loans went unconsumated and respondents refused to pay Surfside its commissions pursuant to the contracts. The claimant brought this action against respondents based on a breach of contract theory of recovery.
Settlement Discussions
The claimant made a C.C.P. º998 settlement demand for $____________. The respondent made a C.C.P. º998 offer of compromise for $_______________.
Damages
The claimant alleged $90,577.22 in unpaid commissions.
Other Information
The award was rendered approximately 11 months after the demand for arbitration. ARBITRATION: A binding arbitration was held on Dec. 12, 1997, before Peter D. Collision, Esq., of the American Arbitration Association resulting in the reported award.
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