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The liability of an escrow agent is normally limited contractually to the bare minimum allowed by law, this generally limits the liability of the escrow agent to compliance with court orders and to refraining from willful or reckless conduct made in bad faith. Also, usually a seller's attorney is not allowed to serve as a true third-party escrow agent, ...


The purchaser’s solicitor is the purchaser’s agent That means, vis-a-vis the vendor, the solicitor is the purchaser. An act or omission of the agent is an act or omission of the purchaser. Therefore, its the purchaser’s fault the money went missing and the vendor can do whatever the contract says they can do - probably require the purchaser to complete and, ...


Both of those are indeed common. In some legal contexts, it is agreed by convention or by specific agreement that two events will be treated as simultaneous if they occur within a defined time interval. For example, in inheritance law it is often agreed that two people will be considered to have died at the same time, so that neither inherits from the other, ...


When the offer has been accepted and that acceptance has been communicated Or, for a contract with conditions precedent, as above plus when the preconditions have been met. Or, when all parties act as if the contract exists.

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