On April 2, 1971, an escrow was entered into to transfer a conveyance of an alcoholic beverage license. The seller of the license was 6236 Santa Monica Blvd., Inc. (seller) and Cassjen, Inc. was the buyer (buyer). The escrow company involved was Gramercy Escrow Co. (Gramercy), and its escrow instructions provided that the escrow was to be conducted under the provisions of section 24074 (see fn. 5) of the California...
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