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OXFORD CONSUMER DIS. CO. OF N. v. STEFANELLI

104 N.J. Super. 512 (1969)

250 A.2d 593

OXFORD CONSUMER DISCOUNT COMPANY OF NORTH PHILADELPHIA, A CORPORATION, PLAINTIFF-RESPONDENT, v. ANTHONY E. STEFANELLI AND THERESA A. STEFANELLI, DEFENDANTS-APPELLANTS, AND ARTHUR J. SILLS, ATTORNEY GENERAL OF NEW JERSEY, INTERVENOR, AND FIRST MERCANTILE CONSUMER DISCOUNT COMPANY, INTERVENOR.

Superior Court of New Jersey, Appellate Division.

Decided February 24, 1969.

Attorney(s) appearing for the Case

Mr. Arnold K. Mytelka argued the cause for intervenor First Mercantile Consumer Discount Company (Messrs. Clapp & Eisenberg, attorneys; Mr. Alfred C. Clapp, of counsel).

Mr. Morris L. Weisberg, of the Pennsylvania Bar, admitted pro hac vice, argued the cause for plaintiff-respondent (Mr. Herman J. Ziegler, attorney).

Mr. Clive S. Cummis argued the cause for amicus curiae, Middle Atlantic Finance Association (Mr. Alan J. Gutterman and Mr. Steven S. Radin, on the brief).

Mrs. Annamay T. Sheppard argued the cause for defendants-appellants (Mr. Edward Carl Broege, Jr., on the brief).

Mr. Joseph A. Hoffman, First Assistant Attorney General, argued the cause for Attorney General, intervenor (Mr. Arthur J. Sills, Attorney General of New Jersey, attorney; Mr. Stephen Skillman and Mr. Douglas J. Harper, Deputy Attorneys General, on the brief).

Mr. Jack B. Kirsten argued the cause for amici curiae, Paul V. Durkin and Ellen Durkin (Messrs. Kirsten & Solomon, attorneys).

Before Judges CONFORD, LABRECQUE and HALPERN.

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

On September 11, 1968 this court held the Secondary Mortgage Loan Act of 1965 (N.J.S.A. 17:11A-1 et seq.; L. 1965, c. 91) to be, in the main, a valid enactment, constitutionally applicable in relation to the enforcement of the obligation on a secondary mortgage loan to New Jersey borrowers, secured by real property situated in this State, although the loan agreement was...

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