QUESTION
Should I place money in escrow when in an unsettled contract dispute
Asked on Jan 15th, 2014 on Contracts - Ohio
More details to this question:
I hired a moving company and there have been numerous unfulfilled promises. There is broken furniture, damages to my old property, an attempted theft of items and overall a contract dispute over service and original promised pricing. It does not appear to be getting resolved. Should I escrow the original contract amount to protect myself from collection until the items damaged and service issues are addressed?
1 ANSWER
1 Award
There is no law in Ohio that would obligate you to put the disputed money into escrow. If you are worried that you may not have the funds to pay at the time the dispute is resolved and do not want to fight a future collection action then it may be wise to set the money aside in a savings account, etc. However, putting the funds in a bona fide escrow account may be more hassle than it is worth since there will be escrow fees, etc., to administer the escrow.
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Answered on Jan 15th, 2014 at 3:29 PM
The answer provided is not legal advice and it is recommended that you seek advice of an attorney.