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ESCROW Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

A scroll; a writing; a deed. Particularly a deed delivered by the grantorinto the hands of a third person, to be held by the latter until the happening of a contingencyor performance of a condition, and then by him delivered to the grantee.Thomas v. So wards, 25 Wis. G31; Patrick v. Mc- Cormick, 10 Neb. 1, 4 N. W. 312;Cagger v. Lansing, 57 Barb. (N. Y.) 427; Davis v. Clark, 58 Kan. 100, 48 Pac. 503;Easton v. Driscoll, 18 R. I. 318, 27 Atl. 445.A grant may be deposited by the grantor with a third person, to be delivered on theperformance of a condition, and on delivery by the depositary it will take effect. Whilein the possession of the third person, and subject to condition, it is called an “escrow.”Civil Code Cal.

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