HERITAGE BANK v. VILSMEIER AUCTION CO.


218 N.J. Super. 440 (1986)

527 A.2d 970

HERITAGE BANK, N.A., N/K/A, MIDLANTIC NATIONAL BANK/SOUTH, PLAINTIFF, v. VILSMEIER AUCTION CO., DEFENDANT.

Superior Court of New Jersey, Law Division Camden County.

Decided December 18, 1986.


Attorney(s) appearing for the Case

Bari J. Gambacorta for plaintiff.

Frank DiDomenico for defendant.


OPINION

HYLAND, J.S.C.

This summary judgment motion raises an issue of first impression in New Jersey as to whether or not an auctioneer who, in good faith, sells personal property in which a third party has a perfected security interest without authorization from the secured party, renders himself liable to the secured party for conversion, even though the auctioneer had no actual knowledge of the secured party's interest.

On September 21, 1983...

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