Legal Question in Business Law in California
Listing and Buying a Business
Is it legal to list a business then buy it myself? Also If the listing agreement with a previous broker has expired is the seller still liable to the previous broker for his commission?
Asked on 9/21/06, 9:11 pm
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: Listing and Buying a Business
Are you a licensed broker? If not, it's probaly illegal whether or not you bought it. Brokering businesses is a licensed activity.
If you are licensed, you should know the answer as a part of your professional training. If in doubt, re-read the DRE's rules re brokers acting as principals.
Answered on 9/22/06, 1:29 am
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