First Security Bank of Utah, N.A. v. Maxwell

HOWE, Justice:

This is an appeal from a judgment forfeiting the buyer’s rights under a real estate contract and awarding attorney’s fees to the escrow agent and sellers.

In June of 1974, defendants Roberts (sellers) and defendant Maxwell (buyer) entered into an installment real estate contract for the sale and purchase of some 300 acres of unimproved land in Duchesne County, Utah. The final payment was to be made in 1984. Buyer and sellers also entered into an escrow agreement appointing the plaintiff First Security Bank (bank) their escrow agent to receive all funds paid under the contract,…