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KAHN v. GENERAL DEVELOPMENT CORPORATION

174 A.2d 307 (1961)

Albert B. KAHN and Howard L. Williams, Plaintiffs, v. GENERAL DEVELOPMENT CORPORATION, a corporation of the State of Maryland, et al., Defendants.

Supreme Court of Delaware.

October 2, 1961.

Attorney(s) appearing for the Case

George T. Coulson, of Morris, Nichols, Arsht & Tunnell, Wilmington, for Bellanca Corp., George N. Craig, of Craig, Summers & O'Hara, Washington, D. C., of counsel.

Daniel L. Herrmann, of Herrmann & Duffy, Wilmington, for defendants-appellees, Theodore Charnas, Hyman Jacobs and Stephen Charnas, New York City, of counsel.

SOUTHERLAND, C. J., and WOLCOTT and BRAMHALL, JJ., sitting.

WOLCOTT, Justice.

This is an appeal from a judgment of the Chancellor dated October 21, 1960 abrogating the effect of an agreement under which shares of General Development Corporation (hereafter General) and shares of Bellanca Aircraft Corporation (hereafter Bellanca) were deposited in escrow for ultimate exchange.

The suit arose by the filing of an action of interpleader by the escrow agents who held both the General...

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