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FIDELITY & DEPOSIT CO. OF MD. v. HUDSON UNITED BANK

No. 80-2234.

653 F.2d 766 (1981)

FIDELITY & DEPOSIT COMPANY OF MARYLAND, a Corporation of the State of Maryland v. HUDSON UNITED BANK, a Banking Corporation of the State of New Jersey, Appellant.

United States Court of Appeals, Third Circuit.

Decided June 30, 1981.

Rehearing and Rehearing Denied August 6, 1981.

Attorney(s) appearing for the Case

Murry D. Brochin (argued), Roger A. Lowenstein, Lee Hilles Wertheim, Lowenstein, Sandler, Brochin, Kohl, Fisher & Boylan, Roseland, N. J., for appellant.

Charles H. Hoens, Jr. (argued), Roger P. Sauer, Lum, Biunno & Thompkins, Newark, N. J., for appellee.

Thomas C. Jamieson, Jr., Michael F. Spicer, Douglas G. Sanborn, Jamieson, McCardell, Moore, Peskin & Spicer, Trenton, N. J., for amicus curiae, New Jersey Bankers Assn.

Before SEITZ, Chief Judge, and VAN DUSEN and GIBBONS, Circuit Judges.

Rehearing and Rehearing En Banc Denied August 6, 1981.

OPINION OF THE COURT

SEITZ, Chief Judge.

Hudson United Bank (the Bank) appeals from a final order of the district court entering judgment of rescission for Fidelity & Deposit Company of Maryland (F&D) after a trial to the court. Disposition of this complex and difficult diversity action is governed by New Jersey law.

I.

In this action, F&D seeks to rescind ab...

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