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LANDTECT CORP. v. STATE MUT. LIFE ASSUR. CO., ETC.

Nos. 78-2240, 78-2241.

605 F.2d 75 (1979)

LANDTECT CORPORATION v. STATE MUTUAL LIFE ASSURANCE COMPANY OF AMERICA.

United States Court of Appeals, Third Circuit.

Decided August 16, 1979.

Attorney(s) appearing for the Case

Joseph Chicco (argued), William T. Hangley, Goodman & Ewing, Philadelphia, Pa., for appellant.

Steven A. Arbittier (argued), Wolf, Block, Schorr & Solis-Cohen, Philadelphia, Pa., for appellee.

Before GIBBONS and HUNTER, Circuit Judges, and MEANOR, District Judge.

OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

1. This action arises out of a contract between Landtect Corporation and State Mutual Life Assurance Corporation of America for the development of an industrial park, to be known as Pureland, in Gloucester County, New Jersey. The contract was to be in effect for a period of 5½ years, but was twice extended by State Mutual for one year periods after the original period had elapsed. In January 1977...

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