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NEW JERSEY BANK v. PALLADINO

146 N.J. Super. 6 (1976)

368 A.2d 943

NEW JERSEY BANK (NATIONAL ASSOCIATION), A CORPORATION OF THE UNITED STATES OF AMERICA, PLAINTIFF-RESPONDENT, v. JOSEPH P. PALLADINO, DEFENDANT, AND FIRST STATE BANK OF HUDSON COUNTY, DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided December 13, 1976.

Attorney(s) appearing for the Case

Messrs. Waters, McPherson & Hudzin, attorneys for appellant, (Mr. John M. Strichek on the brief).

Mr. Allan A. Maki, attorney for respondent.

Messrs. Schumann, Hession, Kennelly & Dorment, attorneys for intervenor Federal Deposit Insurance Corporation (Ms. Dorothea O'C. Wefing on the brief).

Before Judges BISCHOFF, MICHELS and E. GAULKIN.

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

Defendant First State Bank of Hudson County and intervenor Federal Deposit Insurance Corporation, as liquidator of First State Bank of Hudson County, appeal from a judgment entered in favor of plaintiff New Jersey Bank and against the defendants in the sum of $65,595.60.

The basic facts giving rise to this lawsuit are undisputed.

In July 1972 defendant Joseph P. Palladino sought a 90-day loan...

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