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79-83 THIRTEENTH AVE., LTD. v. DeMARCO

79 N.J. Super. 47 (1963)

190 A.2d 391

79-83 THIRTEENTH AVE., LTD., A LIMITED PARTNERSHIP CORPORATION OF NEW JERSEY, PLAINTIFF, v. TERESA DeMARCO, JOSEPH DeMARCO, LOUIS DeMARCO AND DORIS DeMARCO, DEFENDANTS.

Superior Court of New Jersey, Law Division.

Decided April 5, 1963.

Attorney(s) appearing for the Case

Mr. Ronald G. Targan, attorney for plaintiff.

Mr. Frank Metro, attorney for defendants.

CONKLIN, J.S.C.

This is a motion for summary judgment by the plaintiff, 79-83 Thirteenth Avenue, Ltd., seeking a judgment for deficiency on a promissory note after foreclosure of a mortgage which secured the note. The court is not concerned with the validity of the note but rather whether the defendants are entitled to have the amount owing on the note reduced by the "fair market value" or "fair value" of the premises. In July 1958 defendants signed a promissory note...

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