Millenium Properties v. Rose CA2/8
Plaintiff Millenium Properties, Inc., is an investment firm that purchases options on residential properties for purposes of profiting from the resale of the properties. Gregory Falvo is plaintiff’s majority owner and sole officer and director, and is also a licensed real estate agent. Defendant Robert Earl Daniel Rose signed an agreement with plaintiff giving plaintiff an option to purchase defendant’s home for $777,777. Mr. Falvo and defendant also signed a “residential listing agreement” so that plaintiff could “provide additional exposure for the property” if plaintiff chose to do so.
When plaintiff obtained a purchase offer from a third party for $875,000, plaintiff sought to exercise its option, but defendant refused. Plaintiff sued defendant for breach of the option contract. At the court trial, defendant took the position that he did not understand what he had signed; he thought he was signing a “multiple listing”; the option agreement was “hidden amon
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