Barnes

The appellants, who owned an equity in two lots in the city of Los Angeles, entered into a written listing agreement with the respondent whereby they granted to him “the exclusive and irrevocable right to sell the same” within the period of forty-five days after February 14, 1925, “for $7,000, and to accept a deposit thereon, cash 1027, balance as per contract—three payments 1991 each, interest and taxes to date of assignment to be paid by seller.” (Italics ours.) The agreement further provided: “I hereby agree to pay said agent as commission price received above 7000 of the selling price.” Within the time limit of this agreement the respondent interested one Cornitius in the property and secured from him a deposit of $100 and a written agreement to purchase the property “for the purchase price of eighty-two hundred dollars, payable as follows: $2287 cash (of which $100 is above acknowledged) and the balance as per contracts of purchase, issued between the Security Trust & Savings Bank and E. May Eaton and Wendell Osgood; together with interest at the rate of 7% per annum, payable quarterly.” (Italics ours.) The court found and the appellants do not dispute the fact that Cornitius…