Brown
Brown v. Roberts
Opinion
Lead Opinion
Spence, J.
This actionwas instituted by the sellers to compel specific performance of a contract to purchase certain real property. It was thereafter dismissed as to the defendant bank, which was the escrow-holder. From a judgment in favor of plaintiffs and against defendants C. J. Roberts and C. A. Draper, said defendants appeal.
Escrow instructions were signed by plaintiffs and defendant C. J. Roberts on March 1, 1927, and these instructions and accompanying instruments constitute the agreement between the parties. The instructions given by defendant Roberts recite the direct payment of $140 to plaintiffs, the delivery of $400 in cash to the escrow-holder, together with a promissory note in favor of plaintiffs in the sum of $2,350, signed by defendants Roberts and Draper and payable sixty days from date with interest at seven per cent. The escrow-holder was instructed to use the money and note provided it could secure a guarantee or certificate of title from any one of several designated title companies showing the title to the property described in defendant C. J. Roberts, free of encumbrances with the usual exceptions, and further excepting a “trust deed of record securing note for…