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SALITAN v. MAGNUS

62 N.J. Super. 323 (1960)

162 A.2d 883

SAMUEL S. SALITAN, ET AL., PLAINTIFFS-APPELLANTS, v. FINN H. MAGNUS AND ELSIE A. MAGNUS, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided June 30, 1960.

Attorney(s) appearing for the Case

Mr. Harry A. Margolis argued the cause for plaintiffs-appellants (Mr. Max L. Rosenstein, attorney).

Mr. Israel B. Greene argued the cause for defendants-respondents (Messrs. Greene and Robert S. Banks, on the brief).

Before Judges GOLDMANN, FREUND and HANEMAN.

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

This is a suit by a creditor of a bankrupt corporation against two persons who had undertaken to guarantee the bankrupt's debt to the creditor. They are sued on their individual contract of guaranty. The two individuals sued are the president and secretary, as well as the principal shareholders, of the bankrupt corporation. The Law Division granted defendants' motion for summary judgment after it was determined...

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