(Download) "Josephine L. Smith and Allen H. Smith v. Commonwealth National Bank" by Middle Section Court of Appeals of Tennessee " Book PDF Kindle ePub Free

May 16, 2021

eBook details

Title: Josephine L. Smith and Allen H. Smith v. Commonwealth National Bank
Author : Middle Section Court of Appeals of Tennessee
Release Date : January 17, 1989
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 75 KB

Description

The issue in this appeal concerns the liability of an escrow holder for potential income lost on funds removed from an escrow account to pay taxes where the payee, Internal Revenue Service, lost the escrow holders check, thus requiring the issuance of a new, later check. The trial court held that there was no liability for failure to keep the funds invested where, as here, the escrow holder had removed the funds and drawn the check in full compliance with the terms of the escrow agreement. We agree and affirm.