JOHNSTON v. HOLIDAY INNS, INC.

No. 77-1149.

565 F.2d 790 (1977)

Alfred M. JOHNSTON et al., Trustees, Plaintiffs, Appellants, v. HOLIDAY INNS, INC., Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided November 15, 1977.


Attorney(s) appearing for the Case

Mario Misci, Boston, Mass., with whom F. Lee Bailey, Boston, Mass., was on brief, for plaintiffs, appellants.

Samuel Hoar, Boston, Mass., with whom Goodwin, Procter & Hoar, Boston, Mass., was on brief for defendant, appellee.

Before COFFIN, Chief Judge, TUTTLE, Circuit Judge, CAMPBELL, Circuit Judge.


COFFIN, Chief Judge.

This diversity case requires the court to apply long-established principles of contract law to a complicated modern business transaction. Plaintiffs, Alfred Johnston and Daniel Greenwood (hereinafter "appellant") entered into negotiations with defendant, Holiday Inns of America, Inc. (hereinafter "appellee"), to facilitate building a restaurant-motel complex on land that appellant owned. In May, 1968, appellee signed an instrument denominated...

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