The opinion of the court was delivered by: NEWCOMER
Plaintiff instituted this action claiming that Defendant maliciously and intentionally interfered with and induced the breach of his employment contract with AII Systems, and was therefore liable for the injuries he suffered as a result of the breach of contract. The case was tried to the Court, and after due consideration and pursuant to Rule 52 of the Federal Rules of Civil Procedure, the Court makes the following findings of facts and conclusions of law.
1. Plaintiff, J. A. Doughty, is a citizen of the state of New Jersey.
2. Defendant, First Pennsylvania Bank N.A., is a national banking association with its principal place of business in Pennsylvania, within the Eastern District of Pennsylvania.
3. The amount in controversy exceeds $ 10,000 exclusive of interests and costs.
4. In 1969, Plaintiff and four other individuals started a New Jersey corporation known as Applied Information Industries (Applied). Applied specialized in the design and manufacture of electronic equipment. Plaintiff invested $ 15,000 in the corporation and held 20% Of its stock.
5. At Applied's inception, Plaintiff was Named Vice President of Management Systems. In June 1970, he became Vice President of Finance.
6. In 1972, Plaintiff commenced negotiations with Defendant for a corporate loan which was sought to allow for the development and manufacture of a certain data entry terminal. Plaintiff conducted the major portion of the negotiations with Defendant, through the person of Joseph L. Carboni, an employee of Defendant. On June 16, 1972, Applied and Defendant entered into a Revolving Credit Agreement. Under the agreement, Defendant was to advance funds to Applied and it was to become the secured creditor of Applied's assets.
7. Pursuant to the provisions of the Revolving Credit Agreement with Defendant, Applied entered a written employment contract with Plaintiff on September 8, 1972. P-4. The agreement contained the following provision:
"It is further understood that the Company intends to provide continuing employment to Mr. Doughty through the periods indicated and will use its best efforts to so provide, but continuous employment is not hereinunder guaranteed."
8. Soon after the execution of the Revolving Credit Agreement it became clear to Defendant and Applied that the investment in the data entry terminal was a financial disaster. Applied manufactured hundreds of terminals without a commitment by a purchaser, and no order for them was forthcoming.
10. In April 1973, Applied split into two different companies, each assuming approximately one half of the debt owed to Defendant by Applied. Plaintiff stayed in the employ of the original company, ...