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Joined: Jan 2001
Posts: 13,858
Carpal Tunnel
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OP
Carpal Tunnel
Joined: Jan 2001
Posts: 13,858 |
Perhaps not all of us are familiar with this word, which I saw on realestate sign next door.
escrow
n.
OFr escroue, roll of writings, bond < ML scroda < MDu schrot, piece cut off: see SHRED6 Law a written agreement or something of value put in the care of a third party and not delivered until certain conditions are fulfilled
>in escrow Law put in the care of a third party until certain conditions are fulfilled, as a deed, money, etc.
The etymology given above is disappointing. Anybody know more about this?
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Joined: Jan 2001
Posts: 1,819
Pooh-Bah
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Pooh-Bah
Joined: Jan 2001
Posts: 1,819 |
In reply to:
MDu schrot, piece cut off
I don't know the answer but I wonder if the money in the control of the third party is analagous to a piece cut off and thus the term?
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Joined: Jul 2000
Posts: 167
member
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member
Joined: Jul 2000
Posts: 167 |
Lawyers nowadays use the term in the sense of a writing or document, signed and sealed and delivered to a 3rd party, for them to hold it pending the occurrence of a subsequent condition, when it is then released to the obligee. Hence the origin of signed sealed and delivered, ie delivered to the obligee. In software the source code is often held in escrow by a trusted 3rd party to be released to the licensee upon fulfilment of certain conditions.
jj
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