Supreme Court of New Jersey
The State of New Jersey by Theodore D. Parsons, Attorney-General of the State of New Jersey, Plaintiff-Respondent…
October 4, 195622 N.J. 341
Summary
The Supreme Court of New Jersey affirmed the lower court's judgment that the State may obtain custody of unclaimed wage claims, holding that a defendant may plead the statute of limitations as a defense but that failure to report escheatable property under N.J.S.2A:37-42 undermines that defense. The Court also held that the reporting duty applies to corporations as "persons" within the statute and awarded the attorney‑general’s counsel $10,000 in fees. Justice Hehek dissented, arguing that the reporting provision does not impose a duty on corporations and that the defense of limitations should not be defeated by a reporting failure.