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ATLANTIC SEABOARD CO. v. BOROUGH OF SEASIDE PARK

36 N.J. Super. 142 (1955)

115 A.2d 110

ATLANTIC SEABOARD COMPANY, A CORPORATION OF THE STATE OF NEW JERSEY, PLAINTIFF-RESPONDENT, v. THE BOROUGH OF SEASIDE PARK IN THE COUNTY OF OCEAN, A MUNICIPAL CORPORATION, ET AL., DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided June 16, 1955.

Attorney(s) appearing for the Case

Mr. Walter Carson argued the cause for appellant Borough of Seaside Park.

Mr. W. Louis Bossle argued the cause for respondent (Mr. David Novack, attorney).

Mr. Carl Kisselman argued the cause for cross-appellant Arlington Beach Company.

Before Judges GOLDMANN, FREUND and CONFORD.

The opinion of the court was delivered by GOLDMANN, S.J.A.D.

Plaintiff Atlantic Seaboard Company filed its bill of complaint in the former Court of Chancery to foreclose a mortgage for $75,000, dated February 6, 1929, made by Arlington Beach Company ("Arlington") to Tradesmens National Bank and Trust Company of Philadelphia ("Tradesmens Bank"). Plaintiff alleged that it held the bond and mortgage as an assignee, and that the full amount of the principal, with interest...

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