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TERRY APARTMENTS v. ASSOCIATED-EAST MTG. CO.

373 A.2d 585 (1977)

TERRY APARTMENTS ASSOCIATES, a Delaware Partnership, and Facciolo Construction Co., a Delaware Corporation, Plaintiffs, v. ASSOCIATED-EAST MORTGAGE CO., a New Jersey Corporation, Pennamco, Inc., (formerly Associated Mortgage Companies Inc.), a Delaware Corporation, First Pennsylvania Bank, N.A., a corporation of the State of Pennsylvania and First Pennsylvania Corporation, a corporation of the State of Pennsylvania, Defendants.

Court of Chancery of Delaware, New Castle.

Decided January 31, 1977.

Attorney(s) appearing for the Case

John VanBrunt, Jr., Wilmington, for plaintiffs.

Arthur G. Connolly, Jr., Connolly, Bove & Lodge, Wilmington, for defendants First Pennsylvania Bank N.A. and First Pennsylvania Corp.

MARVEL, Chancellor:

Plaintiffs' complaint basically seeks the granting of relief in the form of an order compelling specific performance on the part of the defendants Pennamco and Associated-East of their alleged contractual commitments to provide continuing financing for the construction by plaintiffs of an apartment building located at 25th and Broom Streets in Wilmington, such financing having been allegedly agreed to be furnished in the form of a construction...

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