Legal Opinion
Smith v. Commonwealth National Bank
Supreme Court of Pennsylvania
Decided April 17, 1989No. 379PublishedCited by 61 opinions
1Opinion of the Court
WIEAND, Judge:
The issue in this appeal concerns the liability of an escrow holder for potential income lost on funds removed from an escrow account to pay taxes where the payee, Internal Revenue Service, lost the escrow holder’s check, thus requiring the issuance of a new, later check. The trial court held that there was no liability for failure to keep the funds invested where, as here, the escrow holder had removed the funds and drawn the check in full compliance with the terms of the escrow agreement. We agree and affirm.
As part of a transaction involving the purchase of stock by City…
2Cases cited17 opinions
- Thorsen v. Iron and Glass BankSupreme Court of Pennsylvania · 1984
- Sparler v. Fireman's Insurance Co. of NewarkSupreme Court of Pennsylvania · 1987
- Aluminum Co. of America v. Essex Group, Inc.District Court, W.D. Pennsylvania · 1980
- French v. United Parcel ServiceSupreme Court of Pennsylvania · 1988
- Hazzard v. Chase National BankNew York Supreme Court · 1936
12 more not listed; retrieve them via the Exa API.
3Cited by61 opinions
- 26 Collier bankr.cas.2d 663, Bankr. L. Rep. P 74,447 in Re Allegheny International, Inc. J. Daniel SnyderCourt of Appeals for the Third Circuit · 1992
- Gay v. CreditInformCourt of Appeals for the Third Circuit · 2007
- Charles Sean Kruzits and Mary Kruzits v. Okuma MacHine Tool, Inc. Heller Financial, Inc. Gosiger, Inc. v. Vincent W. Visco, D/B/A Vistek Industries, Third-Party Heller Financial, Inc.Court of Appeals for the Third Circuit · 1994
- In re Allegheny International, Inc.Court of Appeals for the Third Circuit · 1992
- Assicurazioni Generali, S.P.A. v. Iva L. Clover Gordon E. CloverCourt of Appeals for the Third Circuit · 1999
56 more not listed; retrieve them via the Exa API.