Richard Abeles and Jack I. Levkoff, Plaintiffs-Appellants v. Adams Engineering Co., Inc., Defendant-Respondent

Summary

The Supreme Court of New Jersey reversed the Appellate Division and remanded for a new trial on whether the 6% brokerage commission was fair and reasonable, holding that the trial judge was correct that the president of Adams Engineering had authority to bind the corporation and had accepted the insurer's life‑insurance condition, and that a contract between a corporation and its director is enforceable only if it is honest, fair, and reasonable.