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SHALLCROSS v. COMMUNITY STATE BANK AND TRUST CO.

180 N.J. Super. 273 (1981)

434 A.2d 671

LAWRENCE SHALLCROSS, PLAINTIFF, v. COMMUNITY STATE BANK AND TRUST COMPANY, A NEW JERSEY BANKING INSTITUTION, DEFENDANT.

Superior Court of New Jersey, Law Division Union County.

Decided April 7, 1981.

Attorney(s) appearing for the Case

Herbert M. Barnes, for plaintiff.

Jeffrey S. Charney, for defendant (Kaplowitz & Wise, attorneys).

LONG, J.S.C.

This case involves a novel issue arising out of a priority dispute between two secured creditors. The facts are as follows:

Plaintiff is Lawrence Shallcross, the president of Shallcross and Pace Sheet Metal Works. In February 1977 Shallcross had a discussion with Raymond Dunphey, president of R. Dunphey Sheet Metal Works, Inc., concerning a Wysong shear owned by Shallcross and an RAS shear owned by Dunphey. According to Shallcross, Dunphey wanted...

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