American International Enterprises, Inc. v. Federal Deposit Insurance

Plaintiffs American International Enterprises, Inc., and individual Cheker Karam appeal the dismissal of their complaint against the Federal Deposit Insurance Corporation arising out of an alleged commission agreement between the parties in a real estate sale. We have jurisdiction pursuant to 28 U.S.C. § 1291 (1988), and we affirm.

I

The appellants in this case are American International Enterprises (“AIE”), a California corporation, and Cheker Karam, a real estate broker employed by AIE. Both AIE and Karam are real estate brokers licensed in California. Also, both AIE and Karam *1265 are trustees of the “Roque De La Fuente Alexander Revocable Trust No. 1” (“the trust”).

The appellee is the Federal Deposit Insurance Corporation (“FDIC”), the successor in interest to the Federal Savings and Loan Insurance Corporation (“FSLIC”). 2 As part of its role as receiver, FSLIC owned parcels of real estate located in many parts of the country. To sell these parcels of property, the FSLIC solicited help from real estate agents to locate buyers.

In this particular instance, FSLIC solicited an offer from AIE for property located in San Diego County, California, in April, 1988. AIE…