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GREAT FALLS BANK v. PARDO

263 N.J. Super. 388 (1993)

622 A.2d 1353

GREAT FALLS BANK, PLAINTIFF, v. JOSEPH PARDO, SAMUEL PETRACCA, A/K/A SAM PETRACCA AND SAMUEL S. PETRACCA AND MARIA PETRACCA A/K/A MARIA D. PETRACCA, JOHN F. KENNEDY MEDICAL CENTER, AND THE STATE OF NEW JERSEY, DEFENDANTS.

Superior Court of New Jersey, Chancery Division Union County, General Equity.

January 27, 1993.

Attorney(s) appearing for the Case

Scott John Fitzgerald for plaintiff Great Falls Bank.

Aldan O. Markson for defendant Joseph Pardo.

Randal C. Chiocca for defendant Samuel Petracca.

BOYLE, P.J.Ch.

This motion for reconsideration focuses on the novel issue of whether the court should have granted summary judgment to a mortgagee bank, when the defaulting mortgagor's co-partners fraudulently induced him to give to the bank (1) a guaranty covering the co-partners' prior debt and (2) a mortgage to secure his guaranty — both in exchange for an interest in the co-partners' real estate venture.

Plaintiff, Great Falls Bank ("Great Falls...

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