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NEWHARBOR PARTNERS, INC. v. F.D. RICH CO., INC.

Nos. 91-1360, 91-1422.

961 F.2d 294 (1992)

NEWHARBOR PARTNERS, INC., Plaintiff, Appellant, v. F.D. RICH CO., INCORPORATED and F.D. Rich Company of Boston, Inc., Defendants, Appellees. NEWHARBOR PARTNERS, INC., Plaintiff, Appellee, v. F.D. RICH CO., INCORPORATED and F.D. Rich Company of Boston, Inc., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided April 8, 1992.

Attorney(s) appearing for the Case

R. Daniel Prentiss with whom R. Daniel Prentiss and Associates, Providence, R.I., was on brief, for Newharbor Partners, Inc.

George E. Lieberman with whom Jerry H. Elmer and Licht & Semonoff, Providence, R.I., were on brief, for F.D. Rich Co., Inc. and F.D. Rich Co. of Boston, Inc.

Before BREYER, Chief Judge, BROWN, Senior Circuit Judge, and TORRUELLA, Circuit Judge.

JOHN R. BROWN, Senior Circuit Judge,

This is an appeal of a judgment based on a directed verdict1 in a diversity case. This case arises from failed negotiations to form a joint real estate venture.2 The primary issue is whether or not a letter of intent executed by the parties gave rise to a duty to negotiate further in good faith despite express language that it created no legal obligations.

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