AC-BERWICK TRANSPORTERS, INC. v. SENDELL


176 N.J. Super. 339 (1980)

423 A.2d 321

AC-BERWICK TRANSPORTERS, INC., D-J TANK CARRIERS, INC. AND HOLMDELL, INC., CORPORATIONS OF THE STATE OF NEW JERSEY, PLAINTIFFS, v. RICHARD L. SENDELL AND R.L.S. TRUCKING CORP., DEFENDANTS.

Superior Court of New Jersey, Chancery Division Union County.

Decided November 7, 1980.


Attorney(s) appearing for the Case

Sanford Halberstadter, for plaintiffs.

John N. Post, for defendants (Irwin & Post, attorneys).


KENTZ, J.S.C.

The following two issues are now before the court for determination: (1) Whether plaintiffs should be permitted to deposit into court quarterly installment payments now or hereafter due defendant Richard L. Sendell under a stock sale contract dated July 1, 1978; (2) Whether such deposits would constitute a default which would permit defendant to invoke the acceleration clause in the contract.

There are two agreements that form the basis of this...

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