Essay
Thompson Developers, Inc. was selling a piece of undeveloped land to Williamson Builders. Third Escrow, Inc. was the escrow agent for the transaction. The escrow instructions required Thompson to remove all mechanics' liens before closing. When Third Escrow ran the title search, it discovered 3 mechanics' liens for $129; $250 and $79 respectively. Thompson assures Third it will pay the lien holders. Can Third Escrow close based on the assurances?
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No; not without violating its...View Answer
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