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RUNNEMEDE OWNERS, INC. v. CREST MORTG. CORP.

No. 87-1763.

861 F.2d 1053 (1988)

RUNNEMEDE OWNERS, INC., and Ranjit S. Ghura, Plaintiffs-Appellants, v. CREST MORTGAGE CORPORATION and Steven M. Rayman, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided November 18, 1988.

Attorney(s) appearing for the Case

Craig P. Rieders, Orenstein & Orenstein, P.C., New York City, for plaintiffs-appellants.

Marguerite M. Tompkins, Jenner & Block, Chicago, Ill., for defendants-appellees.

Before COFFEY and KANNE, Circuit Judges, and ESCHBACH, Senior Circuit Judge.

COFFEY, Circuit Judge.

This is a diversity case arising from Runnemede's unsuccessful attempts to obtain a business mortgage loan from Crest Mortgage. After considerable effort by both parties and considerable expense by Runnemede, Crest Mortgage refused, at the eleventh hour, to lend Runnemede the proposed mortgage money. Runnemede sued Crest, asserting state law claims that Crest breached its contract with Runnemede, defrauded...

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