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MORGAN GUARANTY TRUST COMPANY OF NEW YORK v. ATLANTA NATIONAL REAL ESTATE TRUST

56280.

149 Ga. App. 118 (1979)

253 S.E.2d 774

MORGAN GUARANTY TRUST COMPANY OF NEW YORK v. ATLANTA NATIONAL REAL ESTATE TRUST.

Court of Appeals of Georgia.

Decided January 25, 1979.

Rehearing Denied February 22, 1979.

Attorney(s) appearing for the Case

King & Spalding, Charles H. Kirbo, Walter Driver, Jr., Joseph R. Bankoff, for appellant.

Alston, Miller & Gaines, Orinda D. Evans, Peter M. Degnan, Sidney Smith, for appellee.

SMITH, Judge.

Morgan Guaranty Trust Co. (Morgan) was a short-term lender for a construction project in South Carolina, and Atlanta National Real Estate Trust (ANRET) was the anticipated long-term lender. Morgan brought this suit in contract, alleging ANRET breached its promise to purchase the short-term loans from Morgan. ANRET moved for summary judgment, claiming a certain condition precedent to ANRET's obligation had not been fulfilled and therefore ANRET had no...

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