CHANNEL HOME CENTERS, GRACE RETAIL CORP. v. GROSSMAN

No. 85-1346.

795 F.2d 291 (1986)

CHANNEL HOME CENTERS, DIVISION OF GRACE RETAIL CORPORATION, Appellant, v. Frank GROSSMAN, Tri Star Associates, Baker Investments Corporation, Cedarbrook Associates, a Pennsylvania Limited Partnership, Appellees.

United States Court of Appeals, Third Circuit.

Decided June 30, 1986.


Attorney(s) appearing for the Case

Joel C. Meredith (argued), Bruce K. Cohen, Meredith & Cohen, Philadelphia, Pa., for appellant.

C. Gary Wynkoop (argued), Blank, Rome, Comisky & McCauley, Philadelphia, Pa., for appellees.

Sidney Ginsberg, Philadelphia, Pa., for amicus curiae Mr. Good Buys of PA, Inc.

Before WEIS, HIGGINBOTHAM, BECKER, Circuit Judges.


OPINION OF THE COURT

BECKER, Circuit Judge.

This diversity case presents the question whether, under Pennsylvania law, a property owner's promise to a prospective tenant, pursuant to a detailed letter of intent, to negotiate in good faith with the prospective tenant and to withdraw the lease premises from the marketplace during the negotiation, can bind the owner for a reasonable period of time where the prospective tenant has expended significant sums of...

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