NEW JERSEY BANK v. TOFFLER


139 N.J. Super. 161 (1976)

353 A.2d 116

NEW JERSEY BANK, A NATIONAL BANKING ASSOCIATION, PLAINTIFF-RESPONDENT, v. JEFFREY TOFFLER AND BETSY ANN TOFFLER, HIS WIFE, DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided February 4, 1976.


Attorney(s) appearing for the Case

Messrs. Cole & Cole, attorneys for appellants (Mr. Robert S. Sirota, on the brief).

Mr. Allan A. Maki, attorney for respondent.

Before Judges MATTHEWS, LORA and MORGAN.


PER CURIAM.

Plaintiff instituted this action against defendants seeking a money judgment because of defendants' failure to repay the balance of a certain loan collateralized by securities. Defendants filed an answer and counterclaimed, alleging that plaintiff as pledgee neglected to protect and preserve the value of the securities which were pledged as collateral for the loan. Plaintiff moved for summary judgment which was granted. This appeal followed.

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