A Nebraska District Court recently held that a jury trial waiver provision in an escrow agreement was enforceable. In DAB Incorporated v. Sunbelt Rentals, Inc., a real estate purchase agreement incorporated the terms of an escrow agreement. A term of the escrow agreement was, in short, that the contracting parties agreed to waive their right to a jury trial for any dispute "arising out of or in any way related to this escrow agreement." A purchase agreement dispute arose between the buyer and seller. The court said that the jury trial waiver was enforceable and applied to any dispute arising under the purchase contract. The court noted that both parties in the transaction were sophisticated and had lawyers. This opinion, once again, reinforces the trend that jury waiver and arbitration provisions in escrow agreements are frequently found to be enforceable. This is good news for those individuals and companies that prefer having complicated real estate issues decided by a judge instead of a jury.
Montgomery Little & Soran, PC Blog
Nebraska Court Finds That Jury Trial Waiver in Escrow Agreement is Enforceable
25 January 2016