Victorio Realty Group Inc. v. Ironwood IX

Plaintiff, Victorio Realty Group, Inc., appeals from the summary judgment entered for defendant in this action arising out of the assignment of an option contract for the purchase and sale of real property. We reverse. In April 1981, defendants Ironwood IX, Inc., Parke, and Westblade entered into an agreement giving plaintiff an option to purchase certain real property from defendant. Subsequently, defendants engaged defendant Burns, a licensed real estate broker, to obtain an assignment of the option agreement. Following negotiations, plaintiff agreed to assign the agreement to Burns for the sum of $150,000. The assignment agreement provided: