Legal Opinion
Bank of Nova Scotia v. St. Croix Drive-In Theatre, Inc.
Court of Appeals for the Third Circuit
Decided February 16, 1984No. Nos. 83-3055, 83-3074PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
WEIS, Circuit Judge.
In this Virgin Islands case, the district court held that a lessor in the real estate development business was not a compensated surety. Therefore, when the creditor granted the tenant an extension of time for repayment of a loan, the lessor/surety was discharged from its obligation under a tripartite agreement. The court also found that the parties had intended that a mortgage given to the creditor apply only to a leasehold and not the fee interest. We agree with these conclusions and will affirm.
After a bench trial, the district court entered judgment…
2Cases cited6 opinions
- Honolulu Roofing Co. v. FelixHawaii Supreme Court · 1967
- Bank of Nova Scotia v. St. Croix Drive-In Theatre, Inc.District Court, Virgin Islands · 1982
- Overly Special School District v. HaberWisconsin Supreme Court · 1927
- Gellis v. S. Gellis & Co., Inc.Court of Chancery of Delaware · 1974
- Standard Accident Insurance v. MuellerAppellate Court of Illinois · 1937
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Bank Of Nova Scotia v. St. Croix Drive-In Theatre, Inc.Court of Appeals for the Third Circuit · 1984
- Warminster Equities, LLC v. Warminster Commerce, LLCCourt of Appeals for the Third Circuit · 2012