Question

A broker followed the instructions in an escrow disbursement order. However, one of the parties to the contract sued the broker and a judgment was filed against the broker that resulted in $8,000 in money damages plus $3,500 in court costs. The broker incurred $4,500 in attorney's fees associated with his defense. The FREC is authorized to disburse what amount associated with this case

Answer 1

The amount that should be associated with the given case is $16,000.

The computation is as follows:

= Money damages + cost of the court + attorney fees associated

= $8,000 + $3,500 + $,4500

= $16,000

In order to determine the value i.e. associated we add the above 3 items.

Therefore we can conclude that The amount that should be associated with the given case is $16,000.

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