Opinion ID: 1408147
Heading Depth: 4
Heading Rank: 1

Heading: Lubin matter

Text: In September 1989 Lubin retained Triem to represent him in the purchase of a limited entry fishing permit. As part of this transaction, Lubin made an earnest money payment of $15,000 to be held by Triem in his trust account. The purchase agreement was contingent upon Lubin getting financing by October 25, 1989. Lubin did not obtain financing, informed Triem of this fact on October 26, and requested return of his $15,000. Triem claimed he told Lubin it was necessary to get verification that the loan was not approved before the money could be returned. Additionally, Triem contends that he told Lubin from the outset that the $15,000 would not be returned immediately, because the seller could assert a contingent claim against it. Lubin contacted the loan officer, Sara Walsh, and requested that a letter be sent to Triem confirming that his loan had not been approved. Walsh provided this verification in a letter dated October 31, 1989. The same day Triem notified the seller that the deal is off and that he was returning the earnest money payment to Lubin. Triem did not return the money to Lubin until January 12, 1990. Between November 3, 1989, and January 3, 1990, Lubin made repeated calls to Triem's office requesting return of his money. Lubin was unable to reach Triem until January 3, when Triem told him that return of Lubin's money must have slipped his mind. On January 12 Triem forwarded $14,133.82, the $15,000 less a deduction of $866.18 for attorney's fees, to Lubin's stockbroker. On January 20 Triem notified Lubin of the transfer and explained that the delay was due to a contract clause that required a seller release. An invoice for Triem's services was included with this notification. Lubin subsequently demanded that Triem refund the money withheld for attorney's fees.