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FIRST BANK AND TRUST CO. v. SIEGEL

36 N.J. Super. 207 (1955)

115 A.2d 152

FIRST BANK AND TRUST COMPANY, A NEW JERSEY BANKING CORPORATION, PLAINTIFF, v. ALBERT SIEGEL, TRADING UNDER THE FIRM NAME AND STYLE OF A & J AUTO SALES, AND SHIRLEY SIEGEL, DEFENDANTS.

Superior Court of New Jersey, Monmouth County Court, Law Division.

Decided June 15, 1955.

Attorney(s) appearing for the Case

Mr. Philip Barbash argued for the plaintiff.

Mr. Charles Blume argued for the defendants.

SIMMILL, J.C.C.

The defendant, Albert Siegel, was in the business of selling automobiles. Finding it necessary to secure financing, he entered into negotiations with the plaintiff which culminated in the execution by Mr. Siegel of a dealer's repurchase agreement, which provided that Siegel agreed to purchase any motor vehicle "as is" that the bank might repossess, upon delivery thereof to Siegel's place of business...

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