New Jersey Superior Court Appellate Division October 20, 1941 (Prashker v. New Jersey Title Guarantee & Trust Co.)

The opinion of the court was delivered by

Perskie, J.

The determinative question in this cause is whether appellants’ rights as holders of guaranteed first mortgage participation certificates issued by respondent Trust Company should have been determined, as they urge, in accordance with the “Equity Rule,” and not in accordance with the “Bankruptcy Rule” as urged by respondents and adopted by the