Sunday, January 12, 2003

No Deal

In an opinion handed down on Thursday, the U.S. Court of Appeals for the Eighth Circuit, applying Minnesota law, determined that a letter of agreement was an unenforceable “agreement to agree” rather than an enforceable contract. It is of some interest that the suit was initiated by a disgruntled broker who believed that it was entitled to a commission even though the contract that was the subject of the alleged commission agreement had never been consummated.

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