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FIRST NAT. STATE BANK OF N. J. v. COM., ETC.

No. 79-1091.

610 F.2d 164 (1979)

FIRST NATIONAL STATE BANK OF NEW JERSEY, a National Banking Association organized under the Acts of Congress v. COMMONWEALTH FEDERAL SAVINGS AND LOAN ASSOCIATION OF NORRISTOWN, Appellant.

United States Court of Appeals, Third Circuit.

Decided December 3, 1979.

Rehearing Denied December 26, 1979.

As Amended January 3, 1980.

Attorney(s) appearing for the Case

Patrick T. Ryan, Drinker, Biddle & Reath, Philadelphia, Pa., Joseph S. Georgiana, Capehart & Scatchard, P. C., Moorestown, N. J., for appellant.

Paul A. Rowe, Greenbaum, Greenbaum, Rowe & Smith, Newark, N. J., for appellee; Dennis A. Estis, Douglas K. Wolfson, on brief.

Before ADAMS, ROSENN and WEIS, Circuit Judges.

Rehearing In Banc Denied December 26, 1979.

OPINION OF THE COURT

ADAMS, Circuit Judge.

In this diversity action, we are asked to reverse a decree of specific performance and an assessment of additional damages. Suit was brought by First National State Bank of New Jersey (First National), as assignee of a real estate developer, for breach by Commonwealth Federal Savings & Loan Association of Norristown (Commonwealth) of a standby commitment for...

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