Rudbart v. North Jersey District Water Supply Commission

We granted certification, 122 N.J. 137, 584 A.2d 210 (1990), primarily to consider the contention of First Fidelity Bank, N.A., New Jersey (Fidelity) that “in a published decision without precedent in the United States the Appellate Division had ruled that every investment security, whether a stock, bond, note or in some other form, is a contract of adhesion subjecting every term of the agreement to post hoc review for fairness.” The Bank’s petition for certification recited that “[n]ot only does this decision threaten to wreak havoc with the federally-regulated national securities market,…