Western Saving Fund Society v. A. V. C. Corp.

OPINION

WALSH, Judge.

In this action the plaintiff, Western Savings Fund Society (Western), a Pennsylvania corporation seeks judgment against the defendant A.V.C. Corporation (A.V.C.), a Delaware corporation, for the unpaid balance of a promissory note for which A. V.C. is a surety.

Western’s claim, which exceeds 1.5 million dollars, has its basis in an agreement between the parties dated September 15, 1971. In essence, the agreement recited that because of certain financial losses sustained by two of A.V.C.’s subsidiaries who were operators of UHF television stations in Atlanta, Pittsburgh and…