Muller

Plaintiff sued.as assignee for collection of one E. Varanini to recover moneys misappropriated by John J. Davi & Brother, real estate brokers. The Fidelity and Deposit Company of Maryland was sued upon its bond given the real estate brokers as surety under the Real Estate Brokers’ Act of July 27, 1919, as amended (Deering’s Gen. Laws, Act 112). Plaintiff had judgment and the surety company alone has appealed upon typewritten transcripts.

The facts are without material conflict. Plaintiff’s assignor, through the agency of the real estate brokers, sold certain property to Palestini for the total price of $16,125; $4,000 was paid at the time of the execution of the contract. The brokers received a commission of $500 and agreed that they would collect the entire balance for the benefit of plaintiff’s assignor. Payments were made from Palestini to the brokers in accordance with this agreement until the balance of the purchase price had been reduced to $9,000. The purchasers then obtained the sum of $7,500 from a first mortgage on the property which was paid to plaintiff’s assignor together with a note for $1500 secured by a second mortgage on the property. This note was expressly made…