Escrow

Escrowe, Escrovet. L. Fr. «k Eng. A scroll, (scrowl, scrole) or writing; (Lat. scriptum, schedula;) a mere writing^ as distinguished from a perfect deed.* Britt. c.

71. l Att. sect. 246.

A deed, (and the term includes a bond,) delivered to a third person to hold or keep, until some act is done or condition performed, and then to be delivered to the grantee or obligee, when it takes effect, and becomes a deed to all intents and purposes.* 2 Bl, Com. 307.

Co. Litt. 36.

Termes de la leg. 1 Steph. Com, 459, note (k) and cases ibid, 4 Ksnfs Com. 454. jffob.

246. 5 Cranch's B, 351.

Until the condition be performed* and the deed delivered over, the estate does not pass, but remains in the grantor.

4 Kent*s Com, 454.

Generally an escrow takes effect from the second delivery, and is to be considered the deed of the party from that time. In cases, however, where it becomes necessary for the purposes of justice, there is a relation back to the first delivery, so as to give the deed effect from that time. Id. ibid. Smith on Contracts, 10, 11 and note. Escrows occurs in very nearly its modem form in the law French of Bntton, but in Littleton's time was written escrovet; both words being used by these authors in describing the manner of partitioning an inheritance among co-parceners. Thus Britton observes, that after partition made, " the parcels should be entered and specified in several scrolls or escrows {enplusurs escrowes,) and these escrowes should be delivered to a layman who knows nothing of letters, and he shall deliver to each parcener an escrow (un escrowe). And according to the lot of the escrows, (that is, according as they happen to be thus distributed) each parcener shall hold for her share." Britt. c.

71.

Littleton describes the mode of drawmg the lots thus: "After the partition of the lands made, each part of the land shall be written alone by itself in a little scroll {en un petit escrovet) and shall be covered all over in wax, in the manner of a lit Ue ball, {d'un petit pile), so that no one can see the scroll, and then the four balls of wax shall be put into a hat to be kept in the hands of an indifferent man," and then the eldest daughter drew first, &c. Litt. sect.

246.

Escrowe seems properly to mean something more than a mere uniting (that being denoted by the Fr. escript, which however escrovet somewhat resembles.) The radical idea appears to be, a writing the contents of which are temporarily kept out of view, as by being put in a third hand, by rolhng up, enclosing in wax, <kc. It will be seen from the foregoing extracts that the distinctive modem feature of an escrow, viz. its being held in the hands of a third person, has belonged to it from the earliest times.