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TUMARKIN v. FIRST NATIONAL STATE BANK

75 N.J. 373 (1978)

382 A.2d 1122

ALLAN L. TUMARKIN, AS ASSIGNEE FOR THE BENEFIT OF CREDITORS OF SCIENTIFIC RESTAURANT MANAGEMENT CORP., A CORPORATION, PLAINTIFF-APPELLANT, v. FIRST NATIONAL STATE BANK, DEFENDANT-RESPONDENT.

The Supreme Court of New Jersey.

Decided February 16, 1978.

Attorney(s) appearing for the Case

Mr. Allan L. Tumarkin, appellant, argued pro se.

Mr. Alan D. Wiener argued the cause for respondent (Messrs. Raff and Schneider, attorneys).

PER CURIAM.

The judgment is affirmed substantially for the reasons expressed in the opinion of the Appellate Division.

PASHMAN, J., dissenting.

I cannot agree with the majority's holding today that a bank's right of setoff can be exercised against an assignee for the benefit of creditors after the deed of assignment is made. There is no statutory authorization for permitting such an act by the bank. Absent...

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