In Warington Lbr. Co. v. Fullerton Mtge. & Escrow Co. (1963) 222 Cal. App. 2d 706, the escrow holder entered into an agreement with the third party to pay funds to the third party upon receiving the money, and the escrow holder's liability rested on the court's conclusion that the escrow holder "was no longer merely a disbursing agent but was a principal under the agreement." (Id. at p. 710.)