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FRANCIS v. UNITED JERSEY BANK

171 N.J. Super. 34 (1979)

407 A.2d 1253

JOHN J. FRANCIS, HUGH P. FRANCIS AND J. RAYMOND BERRY, TRUSTEES OF PRITCHARD & BAIRD INTERMEDIARIES CORP., PRITCHARD & BAIRD, INC., P & B INTERMEDIARIES CORP., AND P & B, INC., PLAINTIFFS-RESPONDENTS, v. UNITED JERSEY BANK, ADMINISTRATOR OF THE ESTATE OF CHARLES H. PRITCHARD, LILLIAN P. OVERCASH, EXECUTRIX OF THE ESTATE OF LILLIAN G. PRITCHARD AND LILLIAN P. OVERCASH, DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided October 26, 1979.

Attorney(s) appearing for the Case

Mr. Clive S. Cummis argued the cause for appellants (Messrs. Sills, Beck, Cummis, Radin & Tischman, attorneys; Mr. Thomas J. Demski, of counsel and on the brief; Mr. Kenneth F. Oettle on the brief).

Mr. Hugh P. Francis argued the cause for respondents (Messrs. Francis & Berry, attorneys).

Before Judges FRITZ, KOLE and LANE.

PER CURIAM.

We cannot concur with the trial judge in his opinion that the defalcations which here concern us and which are so indisputably manifest might be characterized as fraudulent conveyances as that term is known to the law. The fact is that essentially all the misappropriated monies were actually trust funds. Conversion would be a more appropriate term. The distinction does not affect the result or our view of...

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