Opinion ID: 1466626
Heading Depth: 2
Heading Rank: 1

Heading: Mr. Borrelli advised Mr. Dawson to take every step to bring about a removal of the Exception Two.

Text: Varbalow has been a member of the bar of this State for 40 years. He was seasoned in real estate matters as both an attorney and principal in numerous transactions, many with the title company engaged in this matter. He fully understood final settlements and escrow arrangements. In the light of his training and experience it is difficult to comprehend the fine line he seeks to draw. He had to know the sellers and their attorney left the meeting of August 15 with the warranted understanding that the matter was concluded subject only to the reserved matters described above. We have no doubt that Varbalow's understanding coincided perfectly with theirs. No other thesis can explain his acceptance and deposit of the adjustment checks, his acceptance of the assignment of the equity in the bowling alleys and his negotiations with the conditional vendor, the acceptance of the agreement against competition and of the option in himself to buy the mortgage on the adjacent property at a substantial discount, the alterations of the premises, the sale of equipment and the efforts to introduce new attractions. The funds were committed by the unambiguous behavior of Varbalow. He posted the moneys on behalf of the purchaser and the nominee and the moneys became theirs. They could not be withdrawn in violation of the contract of sale and the settlement agreement. Plaintiffs are entitled to judgment directing application of the moneys to the buyer's obligation to perform the judgment for specific performance. 19 Am. Jur., Escrow, § 31, p. 452.