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IAC, LTD. v. PRINCETON PORSCHE-AUDI.

75 N.J. 379 (1978)

382 A.2d 1125

IAC, LTD., PLAINTIFF-APPELLANT, v. PRINCETON PORSCHE-AUDI, DEFENDANT-RESPONDENT.

The Supreme Court of New Jersey.

Decided February 9, 1978.

Attorney(s) appearing for the Case

Mr. James S. Rothschild, Jr. argued the cause for appellant (Messrs. Riker, Danzig, Scherer and Debevoise, attorneys; Mr. Rothschild, of counsel; Mr. Dennis J. O'Grady, on the brief).

Mr. Donald R. Bryant, Jr. argued the cause for respondent (Mr. Gordon C. Strauss, of counsel; Mr. Walter A. DeAngelo, on the brief).

The opinion of the Court was delivered by PASHMAN, J.

The only question before the Court is whether the interest of a holder of a valid foreign lien remains superior to that of an innocent purchaser of the encumbered goods where the buyer is a dealer with respect to the goods and the purchase takes place within four months of the transfer of the property to New Jersey. Simply put, the issue is one of straightforward statutory construction involving N.J.S.A.

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