OPINION OF THE COURT
FREEDMAN, Circuit Judge.
We must thread our way through a labyrinth to reach the issue presented to us by this appeal.
On December 27, 1962 Magmat Construction Co., Inc. (Magmat) entered into contracts with Sica Skiffs, Inc. (Sica) under which Magmat agreed to build certain improvements on Sica's premises in New Jersey for a total contract price of approximately $498,000. Sica later deeded a portion of the premises to its wholly...
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