When a prospective buyer is fully prepared to render the consideration required to consummate a transaction, that person is said to be “read, willing, and able" or, simply, “ready willing and able.” Specifically, the term often arises in the context of real estate brokers, who do not receive compensation for a sale until they procure a buyer who is ready willing and able to perform the contract. For example, Real Estate v. DiBenedetto, a New York state case, held that a plaintiff seeking to recover brokerage fees must establish that they first procured a potential buyer who was ready, willing, and able to perform.
[Last updated in December of 2020 by the Wex Definitions Team]