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Contract Amendment And Commission
Summary
A No Third Party Beneficiary clause in Texas contracts means only the involved parties can enforce terms. If a broker is named for commission, they may have rights to enforce payment. If a contract is amended without a brokers consent, especially if it affects commission, the broker may have recourse. In Texas, title companies generally cannot distribute commissions to unlicensed individuals. If deception is involved, especially with an unlicensed broker, legal consultation is advised.Full Conversation
The following provision exists in a contract in Texas
Hey ****! Could you share more details about the provision in the contract that you are concerned about? This will help me provide more specific information for you.
*.* No Third Party Beneficiary. The provisions of this Agreement and of the documents to be executed and delivered at Closing are and will be for the benefit of Seller and Purchaser only and are not for the benefit of any third party, and accordingly, no third party shall have the right to enforce the provisions of this Agreement or of the documents to be executed and delivered at Closing.
Hey ****! The provision you mentioned is a standard "No Third Party Beneficiary" clause. In Texas, this means:
- Only the parties involved in the contract (Seller and Purchaser) can enforce its terms.
- Third parties have no rights to enforce the contract or benefit from it.
Is there a specific concern or question you have about this clause?
- Only the parties involved in the contract (Seller and Purchaser) can enforce its terms.
- Third parties have no rights to enforce the contract or benefit from it.
Is there a specific concern or question you have about this clause?
How does this impact a broker that is named in the contract with the contract stating the broker is to be paid a commission?
Case Rating: *
A "No Third Party Beneficiary" clause typically means that only the parties directly involved in the contract can enforce its terms. However, if a broker is explicitly named in the contract for commission payment, this creates a direct obligation for the parties to pay the broker. The broker may still have rights to enforce payment based on that specific provision.
Would you like further clarification or have any other concerns about this situation?
A "No Third Party Beneficiary" clause typically means that only the parties directly involved in the contract can enforce its terms. However, if a broker is explicitly named in the contract for commission payment, this creates a direct obligation for the parties to pay the broker. The broker may still have rights to enforce payment based on that specific provision.
Would you like further clarification or have any other concerns about this situation?
yes because the contract was amended by the buyer and seller to reduce my commission without my consent and i am trying to figure out if i have recourse
Case Rating: *
In Texas, if a contract was amended without your consent, and it affects your agreed commission, you may have recourse. Consider:
- Reviewing the original contract terms related to your commission.
- Checking if the amendment was valid without your signature.
- Consulting with a lawyer specializing in contract law for personalized advice.
If you have any more questions or need further clarification, feel free to ask!
In Texas, if a contract was amended without your consent, and it affects your agreed commission, you may have recourse. Consider:
- Reviewing the original contract terms related to your commission.
- Checking if the amendment was valid without your signature.
- Consulting with a lawyer specializing in contract law for personalized advice.
If you have any more questions or need further clarification, feel free to ask!
i wasnt a signer to the contract, which is why they were able to change it without my consent
Case Rating: *
In Texas, if you're not a signer to a contract, it's often why changes can be made without your consent. However, if you were explicitly named to receive a commission, you might still have a claim. Consulting a lawyer who specializes in contract law can offer specific guidance based on your situation.
Would you like to explore any other aspects of this issue or have any additional questions?
In Texas, if you're not a signer to a contract, it's often why changes can be made without your consent. However, if you were explicitly named to receive a commission, you might still have a claim. Consulting a lawyer who specializes in contract law can offer specific guidance based on your situation.
Would you like to explore any other aspects of this issue or have any additional questions?
can a title company in texas distribute a real estate commission to a person or entity without a license
Case Rating: *
In Texas, a title company generally cannot distribute a real estate commission to a person or entity without a real estate license. The Texas Real Estate Commission (TREC) requires that only licensed brokers can receive commissions. You might want to consult with a real estate attorney for specific advice.
Is there anything else you would like to know about this situation?
In Texas, a title company generally cannot distribute a real estate commission to a person or entity without a real estate license. The Texas Real Estate Commission (TREC) requires that only licensed brokers can receive commissions. You might want to consult with a real estate attorney for specific advice.
Is there anything else you would like to know about this situation?
my cooperating broker is the one that deceived the seller into signing an amendment to reduce my commission. the cooperating broker is an affiliate of the buyer and is receiving a commission. He does not have a license
Case Rating: *
This situation seems potentially serious, given the deception involved and the unlicensed broker receiving commissions. Would you like to be connected to local lawyers who can better assist you with your case?
If so, could you provide a bit more information about the issue?
This situation seems potentially serious, given the deception involved and the unlicensed broker receiving commissions. Would you like to be connected to local lawyers who can better assist you with your case?
If so, could you provide a bit more information about the issue?
yes
Case Rating: *
It seems like you might have a high-value case due to the potential deception and the involvement of an unlicensed broker. Let's proceed with collecting some information to connect you to local lawyers.
Could you give me a bit more information about the issue?
It seems like you might have a high-value case due to the potential deception and the involvement of an unlicensed broker. Let's proceed with collecting some information to connect you to local lawyers.
Could you give me a bit more information about the issue?
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