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MASS. HOME MORTGAGE FIN. AG. v. NEW ENG MER. NAT'L BK.

376 Mass. 669 (1978)

382 N.E.2d 1084

MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY vs. NEW ENGLAND MERCHANTS NATIONAL BANK OF BOSTON.

Supreme Judicial Court of Massachusetts, Suffolk.

November 17, 1978.

Attorney(s) appearing for the Case

Arnold P. Messing (Margaret H. Marshall with him) for the plaintiff.

Robert H. Hale (George H. Butcher with him) for the defendant.

Jeffrey C. Bates, for the Savings Banks Association of Massachusetts, amicus curiae, submitted a brief.

Mark A. Michelson, for the Citizens Housing and Planning Association, Inc., amicus curiae, submitted a brief.

William A. Breitbart, for the Housing Allowance Project, Inc., amicus curiae, submitted a brief.

John J. Melican, for the Department of Public Health, amicus curiae, submitted a brief.

David A. White, for the Jamaica Plain Banking and Mortgage Committee, Inc., amicus curiae, submitted a brief.

Harold Hestnes & Richard A. Johnston, for the Massachusetts Mortgage Bankers Association, amicus curiae, submitted a brief.

Present: HENNESSEY, C.J., QUIRICO, BRAUCHER, LIACOS, & ABRAMS, JJ.

QUIRICO, J.

This is an action brought under G.L.c. 231A by the Massachusetts Home Mortgage Finance Agency (MHMFA) against the New England Merchants National Bank (bank) for the determination of an alleged controversy between the parties and a declaration of their rights under an agreement by which the MHMFA agreed to sell, and the bank to purchase, certain bond anticipation notes in the principal sum of $1,250,000 to be issued by the MHMFA. The principal issue before...

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