Garl v. Mihuta

On January 6, 1970, an “Offer to Purchase-Acceptance” (hereinafter referred to as “agreement”) was executed between plaintiffs-appellees and the owner of certain real estate located in Vermilion, Ohio. This agreement was also signed by defendant-appellant in his capacity of real estate broker. The portions of the agreement, pertinent to this case, are as follows:

“All Funds and Papers shall be placed in Escrow "with Loaning Institution within five days after financing is arranged. Escrow fee to be divided equally between Buyers and Sellers. Earnest money shall be promptly refunded and all…