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MAYO v. CITY NATIONAL BANK & TRUST CO.

103 N.J. Super. 227 (1968)

247 A.2d 33

JOHN MAYO, PLAINTIFF, v. CITY NATIONAL BANK AND TRUST COMPANY, DEFENDANT.

Superior Court of New Jersey, Chancery Division.

Decided October 17, 1968.

Attorney(s) appearing for the Case

Messrs. Losche and Losche, attorneys for plaintiff (Mr. Kent A. Losche, appearing).

Messrs. Raff, Sherman and Scheider, attorneys for defendant (Mr. David R. Rudd, appearing).

LORA, J.S.C.

This is an action to recover from defendant City National Bank and Trust Company the sum of $5,000 assigned by Fairleigh Arms, Inc. to plaintiff John Mayo, which assignment the defendant did not honor.

The facts in this matter are largely undisputed. Defendant was the mortgagee of a construction loan mortgage in the principal amount of $750,000. The Fairleigh Arms, Inc. mortgage was dated May 11, 1966 and was duly recorded on May 13, 1966. It...

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