As Modified on Denial of Rehearing and Rehearing En Banc August 25, 1976.
BRIGHT, Circuit Judge.
In mid-1972, the Ralston Purina Company (Ralston) entered into a contract to sell its frozen food processing plant located in Wellston, Ohio, to Freezer Queen Foods, Inc. (Freezer Queen), a wholly-owned subsidiary of Nabisco, Inc. (Nabisco). In connection with this transaction, Nabisco presented Ralston with a guaranty letter in which it allegedly guaranteed the...
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