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SHAHEEN v. AMERICAN TITLE INS. CO.

No. 1 CA-CIV 3407.

120 Ariz. 505 (1978)

586 P.2d 1317

Eugene C. SHAHEEN, J.D. Kingery and Arthur Bowman, Trustee of D'Velco Manufacturing of Arizona Employees' Profit Sharing Retirement Trust, an Arizona Corporation, Appellants, v. AMERICAN TITLE INSURANCE COMPANY, a Florida Corporation, Appellee.

Court of Appeals of Arizona, Division 1, Department B.

Rehearing Denied November 8, 1978.

Review Denied November 28, 1978.

Attorney(s) appearing for the Case

Renaud, Cook & Videan, P.A. by J. Gordon Cook, Phoenix, for appellants.

Fennemore, Craig, von Ammon & Udall, P.C. by John J. O'Connor III, Phoenix, for appellee.

OPINION

JACOBSON, Presiding Judge.

This is an appeal from summary judgment entered in favor of appellee American Title Insurance Company in an action brought by appellants to recover $50,000 lost by American Title's alleged failure to follow escrow instructions. Most of the essential facts were stipulated to by the parties and are undisputed.

Appellants are trustees of a profit-sharing trust for D'Velco Manufacturing of Arizona (D'Velco). In early...

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