Girard Acceptance Corp. v. Wallace

The opinion of the court was delivered by

Schreiber, J.

Defendants Edward W. Wallace and Lauretta Wallace, husband and wife, in defense of plaintiff Oirard Acceptance Corporation’s foreclosure action on two mortgages on two separate tracts of land, contended that the mortgages were unenforceable and the underlying obligation was void because of violations of the Secondary Mortgage Loan Act, N. J. S. A. 17:llA-34 ei seq. The trial court granted the plaintiff’s motion for summary judgment. On appeal the Appellate Division affirmed. 141 N. J. Super. 171 (1976). We granted defendants’ petition for…