State of New Jersey, by Theodore D. Parsons v. Standard Oil Company…

Summary

The New Jersey Supreme Court upheld the escheat judgment against Standard Oil, holding that the state may escheat trust‑related intangible property such as unpaid dividends, but not intangible claims barred by the statute of limitations, and that the notice provisions of the Escheat Act satisfy due‑process requirements. Justice Vanderbilt dissented, arguing the notice scheme is constitutionally inadequate.