Ask Question
BusinessBusiness
3 October, 08:47

An escrow account is:A. always under the jurisdiction of the brokerB. beyond the control of either party to the escrowC. always under the control of the title companyD. under the control of the seller

+3
Answers (1)
  1. 3 October, 08:54
    0
    Answer: B - beyond the control of either party to the escrow

    Explanation: An Escrow account is a legal term used where funds are held in trust whilst two or more parties complete a transaction.

    An Escrow is a trusted third party that will be in custody of the funds during the cause of the transaction and will be the one to pay the merchant after all the escrow agreement are fulfilled.

    Escrow account reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied. It apply mainly to real estate transactions.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An escrow account is:A. always under the jurisdiction of the brokerB. beyond the control of either party to the escrowC. always under the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is a current liability? a. A long-term debt maturing currently, which is to be paid with cash in a sinking fund. b. A long-term debt maturing currently, which is to be retired with proceeds from a new debt issue. c.
Answers (1)
Blake and Matthew are partners who agree that Blake will receive a $103,000 salary allowance and that any remaining income or loss will be shared equally.
Answers (1)
In which paradigm, should special emphasis be placed on the selection of the items to be included in the last increment?
Answers (1)
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $28 per share. Later in the year, the company decides to Purchase 100 shares at a cost of $31 per share.
Answers (1)
Why do people not like one direction? This is for a poll im taking in business class
Answers (2)
New Questions in Business
What are the order of in which management can take legal action against a employee
Answers (1)
What best describes an entrepreneur? a. Someone who initiates and assumes the financial risk of a new business enterprise. b. A person who knows how to evaluate which stocks to purchase. c. Someone who can expertly manage other people's investments.
Answers (1)
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)
Sykora, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $12,000,000 and total direct labor hours to be 320,000 hours. Calculate Sykora's predetermined overhead rate.
Answers (1)
Appalachian mountain goods has paid increasing dividends of $.10, $.12, $.15, and $.20 a share over the past four years, respectively.
Answers (1)
Home » Business » An escrow account is:A. always under the jurisdiction of the brokerB. beyond the control of either party to the escrowC. always under the control of the title companyD. under the control of the seller
Sign Up Forgot Password?