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BUILDERS' CONTROL SER. OF NORTHERN CALIFORNIA, INC. v. NORTH AM. TITLE GUAR. CO.

Docket No. 19581.

205 Cal.App.2d 68 (1962)

22 Cal. Rptr. 712

BUILDERS' CONTROL SERVICE OF NORTHERN CALIFORNIA, INC., Plaintiff and Appellant, v. NORTH AMERICAN TITLE GUARANTY COMPANY, Defendant and Respondent.

Court of Appeals of California, First District, Division One.

June 26, 1962.

Attorney(s) appearing for the Case

Wallace, Garrison, Norton & Ray and Jack D. Tomlinson for Plaintiff and Appellant.

Weinstock, Anderson, Maloney & Chase and P.W. Fisher for Defendant and Respondent.

TOBRINER, J.

[1] An escrow agent who has notice of the assignment of proceeds from the sale of real property may not make deductions from such proceeds in disregard of the terms of the assignment. [2] A disbursing or "control agent" who, for the purpose of protecting the interests of the financier of a construction project and of insuring the payment of laborers and materialmen, takes an assignment...

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