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Remedies Keyed to Tabb, 8th
Ward v. Taggart
Citation:
51 Cal. 2d 736 (1959)Facts
In February 1955, William R. Ward authorized real estate broker LeRoy Thomsen to find properties for purchase. Defendant Marshall W. Taggart, another real estate broker, falsely told Thomsen he had an exclusive listing for Sunset Oil Company property. Taggart rejected Ward’s initial offer of $4,000 per acre, claiming Sunset would not accept less than $5,000 per acre. In reality, Taggart had no listing from Sunset and never presented Ward’s offers to Sunset. Instead, Taggart submitted his own offer of $4,000 per acre to Sunset, which was accepted, intending to resell to Ward at $5,000 per acre for a secret profit of $1,000 per acre. Taggart used fabricated reasons to structure the transaction through dual escrows involving his associate Jordan. Ward paid $360,246 for 72.0492 acres and later discovered the fraud.
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