Endicott v. Marvel
Supreme Court of New Jersey
On appeal from a decree oE the court of chancery advised by Yiee-Chancellor Learning, whose opinion is reported in 81 N. J. Bq. 878.
1Opinion of the Court
The opinion of the court was delivered by
Swayze, J.
We think this case presents little difficulty. In 1898, five out of seven directors of St. Leonard’s Land Company loaned about *633fifteen hundred dollars each to the company for its immediate and pressing- needs. Each was given a collateral note in the ordinary form; pledging thirty shares of stock of the company as collateral and authorizing a sale in default of payment at maturity at private sale without notice to the company and with the right to the pledgee of becoming the purchaser. There seems to be no question that the transaction was a…
2Cited by3 opinions
- Humble Oil & Refining Co. v. DoerrNew Jersey Superior Court Appellate Division · 1973
- Valle v. North Jersey Auto. ClubNew Jersey Superior Court Appellate Division · 1973
- Moss Industries, Inc. v. Irving Metals Co., Inc.New Jersey Court of Chancery · 1948