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VIRTANEN v. O'CONNELL

No. G034184.

44 Cal.Rptr.3d 702 (2006)

140 Cal.App.4th 688

Jorma A. VIRTANEN, Plaintiff and Appellant, v. Christopher P. O'CONNELL et al., Defendants and Appellants.

Court of Appeal of California, Fourth District, Division Three.

June 19, 2006.

Attorney(s) appearing for the Case

McDermott Will & Emery, Elliot Silverman and Michael R. O'Neill, Irvine, for Plaintiff and Appellant.

Nemecek & Cole, Frank W. Nemecek, Susan S. Baker, Sherman Oaks; Greines, Martin, Stein & Richland, Robin Meadow and Cynthia E. Tobisman, Los Angeles, for Defendants and Appellants.

Reed Smith, James C. Martin and Denise M. Howell, Los Angeles, for the Los Angeles County Bar Association as Amicus Curiae.

OPINION

MOORE, J.

An attorney representing the purchaser of stock agreed to act as an escrow holder for the transaction. The seller delivered his stock certificates to the attorney, to be held in escrow. After delays in the closing of the transaction, the seller decided to terminate the sale. He provided to both the purchaser and the attorney a written notice of rescission and demand to return documents. This notwithstanding, the attorney proceeded to close...

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