Legal Opinion
Avon Chair Co., Inc. v. Essex Restaurant, C.
New Jersey Court of Chancery
Decided May 5, 1942No. Docket 139/407PublishedCited by 2 opinions
1Opinion of the Court
The question is whether the petitioner Ampere Bank and Trust Company, has a lien which is valid as against the receiver of the defendant insolvent corporation.
On May 19th, 1941, the defendant borrowed from the Bank $4,250 on its demand note. The note recites:
"Having deposited with said Bank as collateral security * * * the following property which the undersigned hereby assigns and transfers to said Bank, viz., 5,097 pounds 24 ga. No. 2b finish, stainless steel at .6346 per pound, 1,706 pounds 26 ga. No. 4 finish, stainless steel at .8846 per pound."
At the time the note was made and the money…
2Cases cited8 opinions
- Brockhurst v. CoxNew Jersey Court of Chancery · 1906
- Fidelity Trust Co. v. Staten Island Clay Co.New Jersey Court of Chancery · 1905
- Cumberland National Bank v. BakerNew Jersey Court of Chancery · 1898
- Roe v. MedingSupreme Court of New Jersey · 1895
- Bacon v. BonhamSupreme Court of New Jersey · 1881
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3Cited by2 opinions
- Stone v. Allied Clothing Corp.New Jersey Court of Chancery · 1947
- In the Matter of Princeton Rubber Co., Inc., Bankrupt. Irving Trust Company v. C. Wylie Allen, TrusteeCourt of Appeals for the Seventh Circuit · 1959