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MATHEWSON CORP. v. ALLIED MARINE INDUSTRIES, INC.

No. 86-2089.

827 F.2d 850 (1987)

MATHEWSON CORPORATION, Plaintiff, Appellee, v. ALLIED MARINE INDUSTRIES, INC., Defendant, Appellee. Brad Foote Gear Works, Third-Party Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided September 1, 1987.

Attorney(s) appearing for the Case

Gary D. Buseck with whom Robert M. Hacking and Parker, Coulter, Daley & White, Boston, Mass., were on brief, for appellant.

Morton H. Clark with whom R. John Barrett, Vandeventer, Black, Meredith & Martin, Norfolk, Va., Astrid Glynn and Glynn & Dempsey, Boston, Mass., were on brief, for appellee Allied Marine Industries, Inc.

Before COFFIN, DAVIS and SELYA, Circuit Judges.

SELYA, Circuit Judge.

Having conducted negotiations in a leisurely sort of way, the appellant, Brad Foote Gear Works, Inc. (Foote), let a settlement offer linger overlong on the table. Evincing great displeasure when its outstanding offer was finally accepted, Foote hastily repented and tried to upset the applecart. The district court held Foote to its bargain, and this appeal ensued. We affirm.

I. DOWN THE EAST RIVER.

In 1983, appellee Mathewson...

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