Janson v. Cozen and O'Connor

KELLY, Judge.

In these cross-appeals we are called upon to determine whether a valid escrow agreement can arise when a lawyer acting solely upon the instructions of his client deposits the proceeds from the sale of opposing party’s stock into his law firm’s escrow account, then, after subsequently informing opposing party that the proceeds from the sale of her stock has been placed in his law firm’s escrow account, utilize a portion of these same funds at his client’s instruction to settle another case. We hold that a valid escrow agreement between the law firm’s client, opposing party, and…