ERA sues real estate broker over royalty fees, national advertising
ERA Franchise Systems, Inc. is seeking in excess of $50,000 from Ronald J. Tialdo, doing business as Tialdo Realty, claiming Tialdo breached contract by failing to timely pay royalty fees and contributions to a national advertising fund.
Represented by Glenn Davis and Winston Calvert of Armstrong Teasdale in St. Louis, ERA claims Tialdo was obligated to pay 6 percent of gross revenue for royalty fees and 2 percent of gross revenue for national advertising pursuant to an agreement that began April 1, 2004.
Tialdo operates a real estate brokerage office at 511 Sherman in Belleville.
According to the complaint filed Feb. 8 in St. Clair County Circuit Court, the amount owed by Tialdo for fees and costs as of Dec. 18, 2007, was $45,344.12.
"With interest and attorneys' fees as provided in the Agreement, damages are estimated to exceed $50,000," the complaint states.
ERA also is demanding an audit of Tialdo's books, pursuant to the parties' agreement, to verify gross revenue, the complaint states.
"The calculation of monetary amounts sought by ERA in this action is based on gross room revenue supplied to ERA by Tialdo," the complaint states.
"The accuracy of this information cannot be confirmed without an accounting of the receipts and disbursements, profit and loss statements, and other financial materials, statements and books from Tialdo."
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411 Saint Louis Street
Edwardsville, IL 62025