Lyman v. Wood

Opinion by

Ross, J.,

This is an action of assumpsit brought by the plaintiff, Edwin S. Lyman, Jr., to establish his right to one-half of an escrow fund created in the following manner: On May 1, 1948, the plaintiff and the defendant, his mother-in-law, agreed to sell all the assets of an insurance business operated by them under the fictitious name of James W. Wood Agency. It was further agreed that the proceeds of such sale should.be placed in the hands of their attorneys to pay the debts of the business and to hold the balance until the respective rights of the parties therein were…