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TODD v. VESTERMARK

Docket Nos. 21653, 21654.

145 Cal.App.2d 374 (1956)

302 P.2d 347

MILA D. TODD, as Executrix, etc., Respondent, v. ELDRED L. VESTERMARK et al., Appellants. JAMES R. BURNETT et al., Respondents, v. ELDRED L. VESTERMARK et al., Appellants.

Court of Appeals of California, Second District, Division Two.

October 24, 1956.

Attorney(s) appearing for the Case

Roy J. Brown for Appellants.

James J. Baker, Alfred D. Williams, Denio, Hart, Taubman & Simpson and Roger W. Young for Respondents.

ASHBURN, J.

An insolvent escrow holder embezzled moneys deposited with it as soon as they were received. Who must stand the loss — vendor, vendee, holder of trust deed upon the subject land?

On August 25, 1954, plaintiffs James R. Burnett and wife entered into an escrow with defendants Eldred L. Vestermark and wife, depositing with Broadway Escrow of Long Beach (hereinafter referred to as Broadway) instructions appropriate to consummating a sale by...

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