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GRAYBAR ELECTRIC CO., INC. v. CONTINENTAL CAS. CO.

50 N.J. Super. 289 (1958)

142 A.2d 114

GRAYBAR ELECTRIC COMPANY, INC., A CORPORATION OF NEW YORK, PLAINTIFF-RESPONDENT, v. CONTINENTAL CASUALTY COMPANY, A CORPORATION OF ILLINOIS, DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided May 27, 1958.

Attorney(s) appearing for the Case

Mr. George Winne argued the cause for appellant.

Mr. David E. Feldman argued the cause for respondent (Messrs. Furst, Furst & Feldman, attorneys; Mr. Allen Kaufman on the brief).

Before Judges PRICE, HANEMAN and SCHETTINO.

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

Defendant appeals from a summary judgment entered against it in the Law Division. The facts are:

On or about May 9, 1956 Sovereign Construction Co., Ltd. (hereinafter Sovereign) entered into a contract with the Institute for Advanced Study (hereinafter Institute) for the construction of a housing project in Princeton, New Jersey. The contract provided, in part:

"32. Contract Security.

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