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MAGNET RESOURCES v. SUMMIT MRI, INC.

723 A.2d 976 (1998)

MAGNET RESOURCES, INC., Plaintiff-Respondent/ Cross-Appellant, v. SUMMIT MRI, INC., Defendant-Appellant/ Cross-Respondent, Magdy Elamir, M.D., Mohamed Hanafy, and Kennedy MRI, Inc., Defendants.

Superior Court of New Jersey, Appellate Division.

Decided December 16, 1998.

Attorney(s) appearing for the Case

Gallo & Gallo, Ridgewood, for defendant-appellant/cross-respondent (Kenneth T. Gallo, of counsel and on the brief).

Carpenter, Bennett & Morrissey, Newark, for plaintiff-respondent/cross-appellant (Robert J. Stickles, of counsel; Marc E. Wolin, on the brief).

Before Judges PRESSLER, BROCHIN and KLEINER.

The opinion of the Court was delivered by BROCHIN, J.A.D.

This appeal arises from a breach of contract action. The two legal issues of particular importance with which we deal are: (1) the right of a contracting party that reasonably deems itself insecure because of the other contracting party's threatened material breach to demand concrete assurances of performance and to suspend its own performance pending their receipt...

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