Castleton Real Estate & Dev. v. Tai-Fu California Partnership
Plaintiff Castleton Real Estate & Development, Inc. (Castleton) sued defendants Tai-Fu California Partnership and Hsiuh Chin Lin (collectively Tai-Fu) to recover a real estate broker’s commission under an exclusive listing agreement for the sale of certain real property. Tai-Fu cross-complained against Castleton and YK America Group, Inc. (YK) for rescission, indemnity, contribution, declaratory relief, and numerous torts. (Tai-Fu’s cross-complaint is not at issue on appeal.)
YK, in turn, cross-complained against Tai-Fu for breach of an oral contract to pay two percent compensation for services rendered upon the sale of the subject real property. In addition to a common count for money paid, YK also alleged causes of action for promissory estoppel, promissory fraud, quantum meruit, and unjust enrichment.
Following a three-week trial, a jury awarded Castleton $1.5 million on its breach of contract claim based on an offer made by a ready, willing, and able buyer and the “‘sale’†of the property during the listing period. It also found in YK’s favor on its cross-complaint against Tai-Fu for breach of contract and promissory fraud, awarding damages in the amount of $400,000.
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