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HY-GRADE OIL CO. v. N.J. BANK

138 N.J. Super. 112 (1975)

350 A.2d 279

HY-GRADE OIL CO., A NEW JERSEY CORPORATION, PLAINTIFF-APPELLANT, v. NEW JERSEY BANK, A NATIONAL BANKING CORPORATION, DEFENDANT-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided December 23, 1975.

Attorney(s) appearing for the Case

Mr. James LePore argued the cause for appellant (Mr. Michael J. Breslin, Jr., attorney).

Mr. Allan A. Maki argued the cause for respondent.

Before Judges KOLOVSKY, BISCHOFF and BOTTER.

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

The resolution of this appeal requires us to determine whether a clause in a "night depository agreement" between a bank and a customer, providing that "the use of the night depository facilities shall be at the sole risk of the" customer, is valid and enforceable.

Plaintiff Hy-Grade Oil Company was a regular customer of defendant New Jersey Bank. In February 1974, in order to protect the increasing...

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