Legal Opinion
Mayo v. City National Bank & Trust Co.
Supreme Court of New Jersey
Decided May 18, 1970PublishedCited by 10 opinions
1Opinion of the Court
The opinion of the Court was delivered by
Haneman, J.
This matter involves the question of the order of precedence of various creditors of an owner-builder to payment out of an installment of a construction mortgage.
On May 10, 1966, The City Rational Bank and Trust Company of Hackensack (City Rational Bank) signed a “Mortgage Commitment and Closing Instruction Sheet” agreeing to advance $750,000 to Eairleigh Arms, Inc. (Eair leigh) in unspecified installments, the repayment of which was to be secured by a “Construction Mortgage.” Said Commitment reads in part: “Subject to the conditions as…
2Cited by10 opinions
- Selective Insurance v. Hudson East Pain Management Osteopathic MedicineSupreme Court of New Jersey · 2012
- Satellite Gateway Communications, Inc. v. Musi Dining Car Co.Supreme Court of New Jersey · 1988
- General Accident Insurance v. New York Marine & General InsuranceNew Jersey Superior Court Appellate Division · 1999
- BD. OF ED. OF BAYONNE v. KolmanNew Jersey Superior Court Appellate Division · 1970
- LINCOLN FED'L S. & L. ASS'N v. Platt Homes, Inc.New Jersey Superior Court Appellate Division · 1982
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