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FIRST MUTUAL CORP. v. GRAMMERCY & MAINE, INC.

176 N.J. Super. 428 (1980)

423 A.2d 680

FIRST MUTUAL CORP., A NEW JERSEY CORPORATION, PLAINTIFF, v. GRAMMERCY & MAINE, INC. ET ALS., DEFENDANTS, AND FIRST NATIONAL FIDELITY CORPORATION, A NEW JERSEY CORPORATION, PLAINTIFF, v. N.B.J.T., INC. ET ALS., DEFENDANTS.

Superior Court of New Jersey, Law Division Atlantic County.

Decided September 17, 1980.

Attorney(s) appearing for the Case

Paul S. Slotkin for plaintiffs.

Edwin J. Jacobs, Jr., for defendants N.B.J.T., Inc., Grammercy & Maine, Inc., Pacific Properties, Michael Land and Gail M. Land, his wife, Stuart B. Finifter and Lois H. Finifter, his wife (Tort, Jacobs, Gross, Rosenberger & Todd, attorneys).

Kenneth B. Mackler for defendants Marvin A. Roth and Nancy Roth, his wife.

HAINES, J.S.C.

Plaintiff lending institutions, First Mutual Corp. and First National Fidelity Corporation, seek entry of judgments by confession on two promissory notes made by defendant corporations Grammercy & Maine, Inc. and N.B.J.T., Inc., one for $100,000 and the other for $180,000. Both notes are in default. They were to have been paid in six months, with interest at the rate of 30% annually. They were guaranteed...

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