A contract by which an owner of property puts it into the hands of an agent for letting or sale amounts to a promise binding upon the principal to pay a sum of money upon the happening of a specified event through the instrumentality of the agent1. It is not a contract of employment in the ordinary meaning of those words for, except where he is appointed as sole agent2, the agent is under no obligation to do anything, and consequently no term can be implied in such a contract that the principal
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