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PARKER PRECISION PRODUCTS CO. v. METROPOLITAN LIFE INS. CO.

Nos. 17287, 17288.

407 F.2d 1070 (1969)

PARKER PRECISION PRODUCTS CO., a N. J. Corp., Quincy Lucarello v. METROPOLITAN LIFE INSURANCE CO., the United States of America and Leonard W. Leeds (Defendants); Small Business Administration (Defendant on Counterclaim).

United States Court of Appeals Third Circuit.

Decided February 28, 1969.

Attorney(s) appearing for the Case

Lee A. Holley, Holley & Kroner, Orange, N. J., for appellants.

Eugene M. Haring, McCarter & English, Newark, N. J., argued for appellee, Metropolitan Life Insurance Co.

Thomas F. Campion, Shanley & Fisher, Newark, N. J. (Frederick B. Lacey, Newark, N. J., on the brief), for appellee, Dr. Leonard W. Leeds.

Before HASTIE, Chief Judge, and KALODNER and VAN DUSEN, Circuit Judges.

OPINION OF THE COURT

VAN DUSEN, Circuit Judge.

Plaintiffs-appellants challenge a March 11, 1967, order of the District Court which (a) entered judgment for defendant Metropolitan on its counter-claim for rescission of a $20,000. insurance policy on the life of the corporate appellant's deceased President on the ground that such policy was void as procured by fraud,1 (b) provided for cancellation of such policy upon repayment...

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