1. Home
  2. Browse Decisions
  3. N.J.
  4. 87 N.J.
  5. 87 N.J. 15 (1981)
 

FRANCIS v. UNITED JERSEY BANK

87 N.J. 15 (1981)

432 A.2d 814

JOHN J. FRANCIS, HUGH P. FRANCIS AND J. RAYMOND BERRY, TRUSTEES OF PRITCHARD & BAIRD INTERMEDIARIES CORP., PRITCHARD & BAIRD, INC., P & B INTERMEDIARIES CORP., AND P & B, INC., PLAINTIFFS-RESPONDENTS, v. UNITED JERSEY BANK, ADMINISTRATOR OF THE ESTATE OF CHARLES H. PRITCHARD, LILLIAN P. OVERCASH, EXECUTRIX OF THE ESTATE OF LILLIAN G. PRITCHARD AND LILLIAN P. OVERCASH, DEFENDANTS-APPELLANTS.

The Supreme Court of New Jersey.

Decided July 1, 1981.

Attorney(s) appearing for the Case

Clive S. Cummis argued the cause for appellants (Sills, Beck, Cummis, Radin & Tischman, attorneys; Thomas J. Demski, of counsel; Thomas J. Demski and Kenneth F. Oettle, on the brief).

Hugh P. Francis argued the cause for respondents (Francis and Berry, attorneys).

The opinion of the Court was delivered by POLLOCK, J.

The primary issue on this appeal is whether a corporate director is personally liable in negligence for the failure to prevent the misappropriation of trust funds by other directors who were also officers and shareholders of the corporation.

Plaintiffs are trustees in bankruptcy of Pritchard & Baird Intermediaries Corp. (Pritchard & Baird), a reinsurance broker or intermediary. Defendant Lillian...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases