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Tag Archives: extension

Contract – Promissory Notes – ‘Condition Precedent’ – Modification – Extension — Lack of Consideration (access required)

Mendieta v. Wave Energy Drink, LLC The defendant-borrower alleges that, several months after the parties executed several promissory notes, the plaintiff-lenders agreed to extend the notes’ due dates until “such time as [the borrower was] in the financial position to repay said loans.” Since the purported extension agreement came after the notes were executed, it could not be a condition precedent as argued by the borrower.

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Contract – Real Property – Real Estate Commission – Extension (access required)

Stepp v. Owen Although the plaintiff-real estate agent found a willing buyer during the period of the parties’ exclusive listing agreement, there were several contingencies in the offer that were never fulfilled. Even though the agent kept working with that offeror after the listing agreement expired, there was no evidence that the agent had any contact with the eventual buyer, with whom the defendant-seller contracted more than a year after the listing agreement expired. The agent failed to show she was entitled to a commission. We affirm the directed verdict for the seller.

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