BD. OF ED. OF BAYONNE v. KOLMAN


111 N.J. Super. 585 (1970)

270 A.2d 64

THE BOARD OF EDUCATION OF THE CITY OF BAYONNE, IN THE COUNTY OF HUDSON, A MUNICIPAL CORPORATION OF THE STATE OF NEW JERSEY, PLAINTIFF, v. FRED KOLMAN, t/a COLORAMA, INTERNATIONAL FIDELITY INSURANCE COMPANY, A CORPORATION, BROADWAY NATIONAL BANK OF BAYONNE, A BANKING INSTITUTION, SINGER HARDWARE AND SUPPLY CO., INC., WINDALUME CORPORATION, BILDISCO, A PARTNERSHIP, M. POSNOCK, INC., AND VETTER BROS. GLASS CORP., DEFENDANTS.

Superior Court of New Jersey, Chancery Division.

Decided October 8, 1970.


Attorney(s) appearing for the Case

Mr. John J. Pagano, attorney for plaintiff.

Messrs. Dembe and Dembe, attorneys for defendant cross-claimant The Broadway National Bank of Bayonne.

Messrs. McGlynn and McGlynn, attorneys for defendant International Fidelity Insurance Co.


LORA, J.S.C.

Broadway National Bank of Bayonne (Broadway) loaned money to defendant contractor Fred Kolman, t/a Colorama, who subsequently defaulted on his contract with the Board of Education of the City of Bayonne for certain repair work at several schools. The purpose of the loan was to enable Kolman to pay his laborers and acquire supplies.

International Fidelity Insurance Company (International), the surety of the contractor, refuses to pay Broadway,...

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