At 09:51 AM 3/24/97 -0500, "Michael Froomkin - U.Miami School of Law" <froomkin@law.miami.edu> wrote:
It may be that in the UK/EU usage has moved (been moved?) to the point where TTP => escrow. If so, this is as unfortunate as the term "escrow" itself. The UK folks who introduced the term TTP did it in the context of escrow.
I prefer "key bailment" myself. It more closely captures the legal relationships. What a great term! It does sound like it covers the legal relationship, and it sounds like something the average person would rather avoid, as opposed to escrow which is has a neutral-to-positive sound, or "Trusted Third Party" which drips saccharine "We're from H.M.Government, and we're here to help you"
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