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SCHURAN v. WALNUT HILL ASSOC.

256 N.J. Super. 228 (1991)

606 A.2d 885

SCHURAN, INC., A NEW JERSEY CORPORATION, PLAINTIFF, v. WALNUT HILL ASSOCIATES, A NEW JERSEY GENERAL PARTNERSHIP, MEDFORD LAND COMPANY, INC., A NEW JERSEY CORPORATION, GERALD D. VINGL, AND WARREN WITTMAN, JOINTLY, SEVERALLY AND IN THE ALTERNATIVE, DEFENDANTS.

Superior Court of New Jersey, Law Division Camden County.

Decided December 16, 1991.

Attorney(s) appearing for the Case

Clifford L. Van Syoc (Van Syoc Law Offices) Attorney for Plaintiff.

Steven D. Scherzer (Cooper, Perskie, April, Niedelman, Wagenheim & Levenson) Attorneys for Defendants, Warren Wittman and Medford Land Company, Inc.

Stephen Hankin (Hankin, Sandson, Sandman & Cowhey) Attorneys for Defendants, Walnut Hill Associates and Gerald D. Vingl.

FRATTO, J.S.C.

The issue presented by this Partial Summary Judgment Motion is whether a lender is entitled to recover the principal of a loan where the interest rate violates N.J.S.A. 2C:21-19, the Criminal Usury Statute. This question has not yet been decided in any reported decision in this state.

Many material facts in this case are in dispute. They include the status of WALNUT HILL ASSOCIATES ("WALNUT HILL"), a New Jersey General Partnership composed...

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