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WELSH v. GRIFFITH-PRIDEAUX, INC.

60 N.J. Super. 199 (1960)

158 A.2d 529

RONALD A. WELSH AND JAMES T. WELSH, JR., PLAINTIFFS-APPELLANTS, v. GRIFFITH-PRIDEAUX, INC., ET AL., DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided March 8, 1960.

Attorney(s) appearing for the Case

Mr. Walter J. Hunziker, Jr., argued the cause for plaintiffs-appellants (Messrs. Hunziker & Hunziker, attorneys).

Mr. Clifford W. Starrett argued the cause for defendant-respondent Griffith-Prideaux, Inc. (Messrs. Schenck, Smith and King, attorneys).

Mr. John J. Gibbons argued the cause for defendants-respondents Alex Richard Lanyi, et ux. (Messrs. Crummy, Gibbons and O'Neill, attorneys).

Before Judges GOLDMANN, CONFORD and HANEMAN.

The opinion of the court was delivered by CONFORD, J.A.D.

The basic question projected before the trial court in this case was whether a certain written agreement between plaintiffs (hereinafter referred to as the "Welshes") and the defendant corporation (hereinafter referred to as "Griffith") dated December 15, 1955, as recast by an agreement between the same parties dated July 10, 1957, constitutes an equitable mortgage, with the consequent right of redemption by...

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