Bloomfield Bk., C., Co v. Temple B'nai Zion, C.

The Bloomfield National Bank agreed to lend Temple B'Nai Zion and Jewish Community Center $25,000 to build a temple; to be advanced as the building progressed, the last payment, $6,500, upon completion. The security was a mortgage on the temple payable in one year. Within the year the bank advanced $18,500. The structure was not finished when the mortgage fell due, October 25th, 1929, and it was not substantially completed until a year thereafter. The balance, $6,500, was not paid. The complainant and the bank consolidated, and the complainant seeks the sum as advanced, $18,500, by…