Perlmutter v. DeRowe

The opinion of the Court was delivered by

Hall, J.

Plaintiffs sued defendant in the Law Division to recover $50,000 they had delivered to him, partly for their purchase of stock in a corporation in which he was a large stockholder, and partly as a loan, for certain specified purposes, to defendant personally or to the corporation with his personal guaranty. Allegedly the stock was not delivered and the loan not repaid. The transaction took place in New York; defendant is a resident of New Jersey.

On the basis of affidavits supporting the allegations of the complaint that defendant had…