PRUDENTIAL INVESTMENT CORPORATION v. Porcaro

The defendant Felix Porcaro is before us on his appeal from a judgment entered in the Superior Court affirming the District Court’s denial of his motion to vacate a default judgment that was entered against him. Hereinafter, we shall refer to the plaintiff as “Prudential” and the defendant by his last name.

On August 28, 1964, Porcaro and his mother signed a promissory note wherein they agreed to pay Prudential the sum of $2,466.40 in weekly installments for 124 months. The note contained an acceleration clause whereby in case of a default, the remaining balance would become düe and payable.…