First Security Bank Utah v. Lawrence R‪.‬

In June of 1974, defendants Roberts (sellers) and defendant Maxwell (buyer) entered into an installment real estate contract for the sale and purchase of some 300 acres of unimproved land in Dunchesne County, Utah. The final payment was to be made in 1984. Buyer and sellers also entered into an escrow agreement appointing the plaintiff First Security Bank (bank) their escrow agent to receive all funds paid under the contract, and to hold certain documents of conveyance to be delivered as instructed.