The Sirius Star, Inc. v. Sturgeon Bay Shipbuilding & Dry Dock Co

LINDLEY, Circuit Judge.

Plaintiff, engaged in fishing on the Atlantic, contracted on M!ay 22, 1946 with defendant, a shipbuilder at Sturgeon Bay, Wisconsin, to buy, for $269,000, a fishing trawler, which defendant agreed to construct within the “estimated” completion date of December 15, 1946. Plaintiff advanced $75,000. The vessel was not completed until late in- the summer of 1947. On December 15, 1948, having failed to make further payments, plaintiff filed suit to recover the moneys advanced, claiming that, because of the deceit of defendant in two respects, as it averred, it was entitled…