Legal Opinion
New Jersey Bank (National Ass'n) v. Palladino
Supreme Court of New Jersey
Decided July 10, 1978PublishedCited by 35 opinions
1Opinion of the Court
The opinion of the court was delivered by
Schreiber, J.
This case involves the effect of a written assurance given by defendant First State Bank of Hudson County to plaintiff New Jersey Bank to induce it to loan Joseph P. Palladino $50,000. The document stated that if Palladino did not repay the $50,000 debt, which was evidenced by a note, defendant bank would honor that commitment. The crucial question is whether that paper was an illegal guaranty or a valid letter of credit.
The facts are essentially undisputed. In July 1972, Joseph P. Palladino sought a $100,000 loan from plaintiff New Jersey…
2Cases cited9 opinions
- National Surety Corporation, a Corporation of the State of New York v. The Midland Bank, a Corporation of New JerseyCourt of Appeals for the Third Circuit · 1977
- Barclays Bank D. C. O. v. Mercantile National BankCourt of Appeals for the Fifth Circuit · 1973
- Chase Manhattan Bank v. EquibankCourt of Appeals for the Third Circuit · 1977
- Second Nat. Bank v. Columbia Trust Co.Court of Appeals for the Third Circuit · 1923
- Fair Pavilions, Inc. v. First National City BankNew York Court of Appeals · 1967
4 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Onderdonk v. Presbyterian Homes of NJSupreme Court of New Jersey · 1981
- Seidenberg v. Summit BankNew Jersey Superior Court Appellate Division · 2002
- Glenside West Corp. v. Exxon Co., USADistrict Court, D. New Jersey · 1991
- Lo Bosco v. Kure Engineering Ltd.District Court, D. New Jersey · 1995
- Foley MacHinery Co. v. Amland Contractors, Inc.New Jersey Superior Court Appellate Division · 1986
30 more not listed; retrieve them via the Exa API.