Horiike vs. Coldwell Banker: Pinning Down One Aspect of Fiduciary Duty
Rafael Chodos has been an attorney in private practice in Los Angeles for over 38 years. His treatise, The Law of Fiduciary Duties (2000, Blackthorne Legal Press) has been cited by several California courts of appeal, and by the California Supreme Court.
On November 21, 2016, the California Supreme Court (the "Supreme Court") handed down its opinion in Horiike v. Coldwell Banker Residential Brokerage Company.1 The case involves a real estate transaction in which both the selling agent and the buyer’s agent were associate licensees of Coldwell Banker, which acted as "dual agent" in the transaction. The Supreme Court articulated the narrow issue it was going to address, and its resolution of that issue, as follows: