Also known as: brokers · brokered · brokering
Written by attorneys · grounded in primary & secondary sources — see below
An agent who acts as an intermediary or negotiator between prospective buyers and sellers in matters of trade, commerce, or navigation. The broker typically earns a commission for facilitating the transaction but does not take possession of the property or deal on its own account.
Bella Barnes owns a real estate brokerage firm. She refers a qualified Black family to a seller of residential property in a predominantly White neighborhood. The seller refuses the referral on racial grounds. The broker's conduct falls within the statute's prohibition on discriminatory brokering of residential real property.
Brookside Pharmaceuticals regularly sells medical supplies through an intermediary broker who holds itself out as knowledgeable about pharmaceutical goods. A buyer claims the seller lacks merchant status under the UCC. The employment of the specialized broker attributes merchant knowledge and skill to the seller for the transaction.
Select any source to read its text and confirm it supports the definition.
Benito Benitez lists his home with a real estate broker under an exclusive agreement. The broker produces a buyer ready, willing, and able to purchase at the listed price. The seller refuses to close in bad faith. The broker earns the commission because the buyer met the seller's terms.
Bianca Baker negotiates a $600 sale of goods through her authorized broker. The broker signs a written confirmation on Baker's behalf. The buyer later denies the deal. The broker's signature satisfies the statute of frauds record requirement against Baker.
Bradley Banks, a broker, assists a bank in structuring a bond transaction later alleged to involve aiding and abetting securities fraud. Investors sue the broker for secondary liability. The broker's intermediary role in the transaction supplies the factual basis for the aiding claim.
Brendan Burns, a broker, receives material nonpublic information from a corporate client. He trades on that information without disclosure. The government charges him with securities fraud. The broker's failure to disclose while effecting the transaction triggers liability under the misappropriation theory.
A broker earns a commission upon producing a buyer ready, willing, and able to purchase on the seller's terms or upon execution of the contract, depending on the listing agreement. The seller may not in bad faith refuse to complete the transaction and then deny the commission.
A person qualifies as a merchant when knowledge or skill may be attributed through employment of a broker or other intermediary who holds itself out as having such knowledge or skill peculiar to the goods or practices involved.
A contract for the sale of goods for $500 or more is enforceable if signed by the party's authorized agent or broker. The record need not contain every agreed term so long as it indicates a contract was made.
…altered to further the profit potential of petitioners’ stock-trading scheme. Id. , at 832, 834-835. Over a 4-month period, the brokers made prepublication trades on the basis of information given them by Winans about the contents of some 27 “Heard” columns. The net profits from these trades were about $690,000. In…