Schmidt Et Ux. v. Fitzsimmons Et Ux.

This is a suit for a declaratory judgment determining whether the vendors or the vendees shall sustain the loss of escrowed funds embezzled by the escrow agent with whom they were deposited. The Schmidts, as plaintiffs, appeal from a decree dismissing their complaint and entering a decree in accordance with the prayer of the answer of the Fitzsimmonses, as defendants.

The case at bar has its origin in the sale of a parcel of farm land situated near Mt. Angel, Oregon, which was owned by the plaintiffs and purchased by the defendants, whom we shall hereinafter respectively refer to as the…