Todd is a licensed real estate broker in Ohio.One of Todd's largest clients,Sun Corp. ,contracted in writing with Todd to find a purchaser for its plant in New York and agreed to pay him a 6% commission if he was successful.Todd located a buyer who purchased the plant.Unknown to Todd,New York has a real estate broker's licensing statute which is regulatory in nature,intended to protect the public against unqualified persons.Todd violated the licensing statute by failing to obtain a New York license.If Sun refuses to pay Todd any commission and Todd brings an action against Sun,he will be entitled to recover:

Question

Quizplus · Accepted Answer

If the statute is regulatory-that is,the purpose of the legislation is to protect the public against dishonest or incompetent practitioners-an agreement by an unlicensed person is generally held to be unenforceable.

Todd Is a Licensed Real Estate Broker in Ohio