When a buyer defaulted on a 2006 agreement to buy real estate from Ner Tamid Congregation in Illinois, the congregation sued for damages. The purchaser argued that his inability to obtain the kind of financing he wanted because of the economic downturn gave him the right to terminate the agreement. In a decision in 2009, the federal District Court rejected that claim. Pursuant to the contract, the purchaser had placed $150,000 in escrow “for the benefit of the parties.” The agreement did not say how the escrow was to be used in the event of a default. The congregation sued for damages and asked that the $150,000 be paid to it in partial satisfaction of the obligation. The congregation...