Depco v. Bowen Court Associates, 93-7071 (1999)

DECISION

In this case the plaintiff, DEPCO, has sued the defendants for damages for the failure by the defendants to repay sums of money advanced to them by Rhode Island Central Credit Union (RICCU) on December 5, 1990, as part of a loan agreement entered into between the credit union and the defendants. The defendants claim that they are entitled to set off against the plaintiff's claim damages they have incurred from RICCU's failure to carry out its part of the loan agreement to finance the defendants' development project in full.

So far as this litigation is concerned, the relevant agreement…