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KARU v. FELDMAN

119 N.J. 135 (1990)

574 A.2d 420

MICHAEL H. KARU, INDIVIDUALLY, AND ON BEHALF OF THE POTENTIAL HEIRS AND BENEFICIARIES OF THE ESTATE OF MORRIS M. KARU, PLAINTIFF-RESPONDENT, v. ARLINE KARU FELDMAN, DEFENDANT, AND FIRST JERSEY NATIONAL BANK, DEFENDANT-APPELLANT, AND JOEL H. FELDMAN, AS EXECUTOR, ADDITIONAL COUNTERCLAIM DEFENDANT.

The Supreme Court of New Jersey.

Decided May 29, 1990.

Attorney(s) appearing for the Case

James R. Van Horn argued the cause for appellant.

Jon Rory Skolnick argued the cause for respondent.

Dennis R. Casale submitted briefs on behalf of amicus curiae, New Jersey Bankers Association (Jamieson, Moore, Peskin & Spicer, attorneys).

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

On May 17, 1985, Morris Karu purchased two $100,000 Certificates of Deposit (CD) and one $50,000 CD from defendant, First Jersey National Bank (First Jersey). On January 29, 1986, Morris Karu died. This case arose from a dispute between two relatives of Morris Karu with respect to ownership of those three CDs. Specifically, on this appeal, Michael Karu, Morris Karu's nephew, alleges that First Jersey wrongfully...

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