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

44 N.J. 525 (1965)

210 A.2d 401

79-83 THIRTEENTH AVENUE, LTD., A LIMITED PARTNERSHIP ASSOCIATION OF NEW JERSEY, PLAINTIFF-RESPONDENT, v. TERESA DeMARCO, JOSEPH DeMARCO, LOUIS DeMARCO AND DORIS DeMARCO, DEFENDANTS-APPELLANTS.

The Supreme Court of New Jersey.

Decided May 24, 1965.

Attorney(s) appearing for the Case

Mr. Jacob Levine argued the cause for appellants (Mr. Frank Metro, attorney).

Mr. Ronald G. Targan argued the cause for respondent.

The opinion of the court was delivered by HALL, J.

This is an action at law for a deficiency following the foreclosure of a first mortgage. The primary feature calling for our attention arises from the fact that the instrument evidencing the debt which the mortgage secured was in form a promissory note rather than the conventional mortgage bond. Defendants, who were the mortgagors and makers of the note, claimed by their answer the benefit of N.J.S. 2A:50-3...

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