Girvin v. Union Trust Co.

Citations

• 225 Pa. 510
• 74 A. 373

Syllabus

<p>Contract — Deed—Escrow.</p> <p>Where a trust company receives a deed in escrow to deliver it upon the receipt of a portion of the stock of a new corporation, which stock is the consideration for the deed, and the trust company assumes no responsibility as to the organization of the new corporation, and the grantor accepts the stock and gives a receipt in full settlement of the consideration named in his agreement with the promoter of the corporation, and the trust company is guilty of no neglect or fraud, it cannot be held liable to the grantor for a loss resulting from the depreciation in the value of the stock for which the deed was delivered.</p>