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CARIBBEAN MUSHROOM CO. v. GOVERNMENT DEVELOP. BANK

No. 96-1279.

102 F.3d 1307 (1996)

CARIBBEAN MUSHROOM CO., INC., Plaintiff, Appellee, v. The GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO and Puerto Rico Development Fund, Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided December 23, 1996.

Attorney(s) appearing for the Case

John W. Dougherty, Clifton Heights, PA, with whom Peter J. Satz, Rio Piedras, PR, was on brief, for defendants-appellants.

Heidi L. Rodriguez, San Juan, PR, with whom Jorge I. Peirats, Hato Rey, PR, and Maria de Los Angeles Trigo, San Juan, PR, was on brief, for plaintiff-appellee.

Before COFFIN and CAMPBELL, Senior Circuit Judges, and DiCLERICO, District Judge.

COFFIN, Senior Circuit Judge.

Plaintiff-appellee Caribbean Mushroom Company, Inc. seeks damages for the breach of an agreement to provide it with a $100,000 loan. The issue before us is whether the company waited too long to bring its action. The agreement allegedly was breached in January 1978. The lawsuit was filed nearly fifteen years later, in January 1993. The district court concluded that the action was subject to a three-year statute of limitations, and therefore...

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