On August 30, 1971 the plaintiffs addressed a letter to the defendant in the nature of a request for a first mortgage loan. The letter, which was accompanied by a check in the amount of $15,000 as evidence of plaintiffs' "good faith", contained a statement that it was to be returned if "for any reason whatever, your loan commitment is not issued in 30 days". The space for acceptance by the defendant was never signed. The defendant took the position that the August 30, 1971...
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