Keyes v. Citizens State Bank

David Hart, Incorporated, owned some land at Auburn, upon which the corporation known as the Pacific White Mica Company desired to erect a building. An agreement was entered into between the two corporations whereby David Hart, Incorporated, conveyed the land to the Pacific White Mica Company by deed which was placed in escrow with the Citizens State Bank. The respondent Citizens State Bank was later succeeded by respondent Auburn National Bank, and we will refer to them hereafter as though they were one concern.

The terms of the escrow were that the deed was to be delivered to the mica…