SELENGUT v. FERRARA


203 N.J. Super. 249 (1985)

496 A.2d 725

MANUEL SELENGUT, PLAINTIFF-APPELLANT, v. JEROME FERRARA AND ELIZABETH D. FERRARA, HIS WIFE, DEFENDANTS-RESPONDENTS, AND MILDRED RUBIN, THE MADDEN AGENCY OF MORRIS COUNTY, INC., A NEW JERSEY CORPORATION AND J. TEDESCO PLUMBING AND HEATING, DEFENDANTS.

Superior Court of New Jersey, Appellate Division.

Decided July 19, 1985.


Attorney(s) appearing for the Case

Martin Newmark argued the cause for appellant (Broderick, Newmark, Grather & Aspero, attorneys; Martin Newmark, on the brief).

Dennis M. Mahoney argued the cause for respondents (Mahoney, Mahoney & Cannon, attorneys; Dennis M. Mahoney, on the brief).

Dennis R. Casale argued the cause for amici curiae New Jersey Bankers Association and New Jersey Council of Savings Institutions (Jamieson, McCardell, Moore, Peskin & Spicer, attorneys; Dennis R. Casale, on the brief).

Before KING, DEIGHAN and BILDER, JJ.


The opinion of the court was delivered by DEIGHAN, J.A.D.

On this appeal we are required to determine whether a bona fide business loan made by a banking institution to a corporation, on a personal guarantee and a secured mortgage on the guarantor's residence, is subject to the provisions and limitations of the Secondary Mortgage Loan Act. N.J.S.A. 17:11A-34 et seq. Plaintiff, Manuel Selengut appeals from a dismissal of the complaint to foreclose his...

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