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California Arbitration Question

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EUSKADULNA

Guest
We have a contract with a builder here in Ca we got down to the closing date and he recieved his net sheet from the escrow company. An hour later he called our agent and wants to cancel the escrow and return our money. We have a arbitration clause in the contract.There are no "Seller may cancel ..." Clauses. Our question is in the following Code what is Section 409 we can't find it anywhere..Thanks for any help...
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by EUSKADULNA:

We have a contract with a builder here in Ca we got down to the closing date and he recieved his net sheet from the escrow company. An hour later he called our agent and wants to cancel the escrow and return our money. We have a arbitration clause in the contract.There are no "Seller may cancel ..." Clauses. Our question is in the following Code what is Section 409 we can't find it anywhere..Thanks for any help...
<HR></BLOCKQUOTE>

Must be the CA Civil Code. IAAL can you please check on this. The most that I can come up with is an all-purpose home cleaner in a spray bottle and I think a Jan and Dean tune.

[This message has been edited by HomeGuru (edited October 30, 2000).]
 
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EUSKADULNA

Guest
I forgot to post the Civil Procedure Code I was referring to.
1298.5. Any party to an action who proceeds to record a notice of
pending action pursuant to Section 409 shall not thereby waive any
right of arbitration which that person may have pursuant to a written
agreement to arbitrate, nor any right to petition the court to
compel arbitration pursuant to Section 1281.2, if, in filing an
action to record that notice, the party at the same time presents to
the court an application that the action be stayed pending the
arbitration of any dispute which is claimed to be arbitrable and
which is relevant to the action.The portion that I can't find is the Sec. 409
 

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