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CAMBRIDGE AC. CORP. v. AMERICAN NATL. MOT. INNS

96 N.J. Super. 183 (1967)

232 A.2d 692

CAMBRIDGE ACCEPTANCE CORPORATION, PLAINTIFF, v. AMERICAN NATIONAL MOTOR INNS, INC., LEO HOCKSTEIN AND SYLVIA HOCKSTEIN, HAROLD S. OKIN, TRUSTEE, KENNETH E. KNOTTS AND FRANKLIN INDUSTRIES, INC. (R-WAY FURNITURE CO. DIVISION), THE DAILY JOURNAL DIVISION OF MID-ATLANTIC NEWSPAPERS, INC., F.K.M. ADVERTISING CO., INC., WELCH JENSEN AND SUSANNA E. JENSEN AND KNICKERBOCKER MAINTENANCE CORP., DEFENDANTS. THE OXFORD FINANCE COMPANIES, INC., PLAINTIFF, v. WILLIAM J. TAMBURRI AND CHICAGO TITLE INSURANCE COMPANY, DEFENDANTS.

Superior Court of New Jersey, Chancery Division Superior Court of New Jersey, Law Division.

Decided July 12, 1967.

Attorney(s) appearing for the Case

Mr. W. Richard Kahn for Cambridge Acceptance Corporation (Messrs. Jeffers and Dillon attorneys).

Mr. Herman J. Ziegler, attorney for The Oxford Finance Companies, Inc.

Mr. Robert Silver for Leo and Sylvia Hockstein (Mr. Martin Simon, attorney).

Mr. Robert C. Thompson, Jr. for Kenneth E. Knotts (Messrs. Nichols, Thompson & Peek, attorneys).

Mr. John A. Willette for William J. Tamburri (Messrs. Williams & Willette, attorneys).

Mr. Peter L. Berkley for Chicago Title Insurance Company (Messrs. Riker, Danzig, Scherer & Brown, attorneys).

FRITZ, J.S.C.

This is a Chancery action for foreclosure of a mortgage on real estate consolidated with a law action for damages involving the same transactions. The foreclosure phase appears to involve questions of first impression in New Jersey.

I — The Chancery Action

In October 1963 Leo Hockstein was the owner of a parcel of vacant land of about 1 1/2 acres in Denville Township. During that month he contracted with Associated Realty Company...

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