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D'IPPOLITO, ET AL., v. CASTORO, ET AL.,

51 N.J. 584 (1968)

242 A.2d 617

JOSEPH M. D'IPPOLITO, ET AL., PLAINTIFFS-APPELLANTS, v. JOSEPH N. CASTORO, ET AL., DEFENDANTS-RESPONDENTS. JOSEPH N. CASTORO, PLAINTIFF-RESPONDENT, v. JOSEPH M. D'IPPOLITO, ET AL., DEFENDANTS-APPELLANTS.

The Supreme Court of New Jersey.

Decided May 20, 1968.

Attorney(s) appearing for the Case

Mr. William L. Boyan argued the cause for appellants.

Mr. Thomas C. Jamieson, Jr. argued the cause for respondents (Messrs. Jamieson, Walsh, McCardell & Moore, attorneys).

The opinion of the court was delivered by HANEMAN, J.

This appeal requires a determination of the duties and liabilities existing between co-guarantors of a promissory note.

The record discloses that D'Ippolito attempted to establish his own carton manufacturing corporation in 1962. When a credit commitment failed, D'Ippolito sought working capital from other sources. He contacted Castoro, an experienced businessman who, after several meetings, began to advance...

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