In Oregon, does an escrow contract have to state a time for performance to be valid? Jim, a builder, built a house too high on lot 22. The neighbor Brent complained, so Jim gave $5,000 to Brent to hold in escrow to make sure Jim doesn't do this again on lot 23. The escrow agreement doesn't say how long it lasts for. It only says the money is for Brent to use for legal fees if he has to sue Jim in the future over a height restriction violation on lot 23. If a house is built and doesn’t violate the height restrictions, then the money is to be returned to Jim. Jim sold lot 23 to me and assigned to me his rights in the escrow agreement. I have never violated any zoning laws and may not build on the lot for a long time. I want to get that $5,000 now. I will explicitly agree to follow all building codes. Can I get that based on the failure of the contract / escrow agreement for containing a time of performance? Thanks, Dave
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