(Download) "Chan V. Title Insurance And Trust Co." by Supreme Court Of California " eBook PDF Kindle ePub Free
eBook details
- Title: Chan V. Title Insurance And Trust Co.
- Author : Supreme Court Of California
- Release Date : January 11, 1952
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
Melvin E. Vaughan, Sr., and Rozelle Rainey Vaughan agreed to purchase real property from Chin Ott Wong and Quan Shee Wong. The Vaughans deposited certain money in escrow with the Title Insurance and Trust Company (hereinafter called the Title Company). The Wongs, claiming that "time was of the essence" of the agreement and that the Vaughans had defaulted in their payments, brought this action seeking a forfeiture of the escrow money. The action originally was commenced only against the Title Company as the escrow holder. Upon the latter's motion, the Vaughans were substituted as defendants and the Title Company was discharged from further liability except that it was ordered to retain the escrow money for disbursement as "ordered and adjudged by a final judgment." Trial of the action resulted in a judgment for the Wongs, which judgment was reversed on the ground that the "time is of the essence" provision had been waived, and no notice fixing a new date for performance had been given by them. (Chin Ott Wong v. Title Ins. & Trust Co., 89 Cal. App. 2d 183 [200 P.2d 541].) Thereafter Chin Ott Wong died and Taul C. Chan as special administrator of his estate was substituted as party plaintiff. The second trial resulted in a judgment for the Vaughans based upon their cross-complaint for return of the escrow deposit. The judgment ran against plaintiffs and the Title Company for payment of the full escrow deposit plus interest calculated from the day the trial court found the Title Company, after entry of the first judgment, had paid such deposit to the Wongs. From such judgment, plaintiffs and the Title Company appeal.
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