H. Michaelyan, Inc. v. New Jersey Fidelity & Plate Glass Insurance

This appeal presents an interesting issue of fact as to whether the defendant was negligent in the handling of its certified copies of a power of attorney so that a manager of the defendant was held out as continuing to have a power of attorney which had in fact been revoked. The action was brought to obtain a declaratory judgment adjudging that an agreement guaranteeing a note was a binding obligation of the defendant. After a trial before the court without a jury, the complaint was dismissed.

*124The facts in brief are as follows: Plaintiff is a dealer in rugs and tapestries. About the middle of…