Supreme Court of New Jersey March 1, 1971 (Perlmutter v. DeRowe)

The opinion of the Court was delivered by

Hall, J.

Plaintiffs sued defendant in the Law Division to recover $50,000 they had delivered to him, partly for their purchase of stock in a corporation in which he was a large stockholder, and partly as a loan, for certain specified purposes, to defendant personally or to the corporation with his personal guaranty.