Key Agency v. Continental Casualty Co.

The opinion of the court was delivered by

Burling, J.

Plaintiff instituted this action in the Superior Court, Chancery Division, to compel the defendant to hold in trust for plaintiff money received or to be received by the defendant as an assignee of General Builders Incorporated (hereinafter called the contractor) from the Board of Education of Franklin Township, New Jersey, and the Board of Education of Kinnelon Township, New Jersey. Plaintiff moved for summary judgment and defendant filed a cross-motion for judgment on the pleadings, each, party submitting affidavits to support its motion.…