Early

L. D. Owens, Jr., was a real estate broker, duly licensed under the laws of California, doing business under the name of L. D. Owens Company. W. J. Caverley was a salesman working out of the office of this company.

The complaint in this action alleges: That on or about October 27, 1926, appellant was the owner of ten acres of land near Rialto in the county of San Bernardino of the reasonable value of $20,000; that he was also the owner of a promissory note' in the principal sum of $15,000 secured by a deed of trust upon real property in the county of Los Angeles; that he was also the owner of an improved lot located on Melrose Avenue in the city of Los Angeles of the reasonable value of $20,000; and that at said time Fannie Jacobs was the owner of four improved lots on Santa Monica Boulevard in the city of Los Angeles of the reasonable value of $70,000. The complaint further alleged that on the twenty-seventh day of October, 1926, respondents were employed by appellant as his agents and brokers to sell and trade his property together with the sum of $1250 for the Fannie Jacobs property at the agreed price of $88,000; that the exchange was fully consummated and the conveyances…