Legal English Challenge 2023 – Day 5
Read this short text about escrow agreements, then select the correct option from the list to complete (1) ….. to (10) ….. .
Escrow agreements are frequently used in ___1___ transactions. ___2___ routinely act as escrow agents so the ___3___ can perform due diligence, such as an ___4___, on his potential ___5___ while assuring the ___6____ of his capacity to close on the purchase.
Under an escrow agreement, money, property, money or a bond put is into the ___7___ of a third party for delivery to the seller only after the fulfillment of the conditions specified.
The escrow agreement normally includes the identity of the appointed ___8___, the escrow ___9___ and detailed conditions for the release of these funds, the acceptable use of funds by the escrow agent, the duties and liabilities of the escrow agent, the escrow agent’s fees and expenses, and the___10___ and venue in the event of a legal action.
Now, press the START button to select the correct option from the list to complete (1) ….. to (10) ….. .
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