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JACOBS v. GREAT PACIFIC CENTURY CORP.

104 N.J. 580 (1986)

518 A.2d 223

SAMUEL A. JACOBS, INDIVIDUALLY AND ON BEHALF OF ALL THOSE SIMILARLY SITUATED, PLAINTIFFS-RESPONDENTS AND CROSS-APPELLANTS, v. GREAT PACIFIC CENTURY CORPORATION, DEFENDANT-APPELLANT AND CROSS-RESPONDENT.

The Supreme Court of New Jersey.

Decided December 16, 1986.

Attorney(s) appearing for the Case

Michael R. Griffinger argued the cause for defendant-appellant and cross-respondent (Crummy, Del Deo, Dolan, Griffinger & Vecchione, attorneys).

Bruce H. Nagel argued the cause for plaintiffs-respondents and cross-appellants (Meth, Nagel, Rice, Woehling & Bausch, attorneys).

PER CURIAM.

We granted certification, 102 N.J. 397 (1986), primarily to consider whether, in the absence of an express contractual provision, the interest earned on a real estate deposit should be considered the property of the seller or buyer. The issue arises in the context of an agreement which specifically requires that the deposit be held in an interest bearing trust account. We find that...

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