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YAHN & McDONNELL v. FARMERS BANK, ETC.

Civ. A. No. 78-361.

538 F.Supp. 712 (1982)

YAHN & McDONNELL, INC., a Pennsylvania corporation, Plaintiff, v. FARMERS BANK OF the STATE OF DELAWARE, a Delaware corporation, Defendant, Third-Party Plaintiff, v. DELAWARE CANDY & TOBACCO SERVICE, a Joint Venture, Paul E. Kessler, M. Binder & Company, Delmar Merchandise Sales Co., Joint Venturers, Delaware Retail Stores, Inc., a Delaware corporation, and Insurance Company of North America, a Pennsylvania corporation, Third-Party Defendants, DELAWARE CANDY & TOBACCO SERVICE, a Joint Venture, and Delmar Merchandise Sales Co., Joint Venturer, Fourth-Party Plaintiffs, v. John M. GRAY, Fourth-Party Defendant, DELAWARE CANDY & TOBACCO SERVICE, a Joint Venture, and Paul E. Kessler, A Joint Venturer, Fourth-Party Plaintiffs, v. John M. GRAY and David Cohen, Fourth-Party Defendants.

United States District Court, D. Delaware.

April 23, 1982.

Attorney(s) appearing for the Case

George H. Seitz, III, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Del., for plaintiff.

Martin I. Lubaroff and Robert J. Katzenstein of Richards, Layton & Finger, Wilmington, Del., for defendant and third-party plaintiff.

David Roeberg of Roeberg & Associates and Richard W. Pell of Tybout, Redfearn, Casarino & Pell, Wilmington, Del., for third-party defendants.

Edward B. Maxwell, II, of Young, Conaway, Stargatt & Taylor, Wilmington, Del., for fourth-party plaintiffs.

L. Kent Wyatt, Aerenson, Balick & Ferrara, Wilmington, Del., for fourth-party defendants.

OPINION

STEEL, Senior District Judge:

Plaintiff, Yahn & McDonnell, is the holder of a negotiable certificate of deposit (CD), No. 4681, in the amount of $150,000, issued on July 12, 1976 by the defendant Farmers Bank of Delaware with maturity dated October 12, 1976. The CD is payable to the order of "Insurance Company of North America for Account of Delaware Candy and Tobacco Service" and on June 16, 1978, it was endorsed by Insurance Company of North...

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