Thermo Contracting Corp., a New Jersey Corporation, Plaintiff-Appellant v. the Bank of New Jersey, a Banking…

Summary

The Supreme Court of New Jersey affirmed summary judgment against Thermo, holding that Thermo ratified the subcontractor's unauthorized endorsements of checks, thereby precluding its claims against the banks and Seabrook; Justice Schreiber dissented, arguing no ratification and calling for reversal, while Justice Pashman concurred in part, agreeing the bank should be liable but affirming the judgment against Thermo on Seabrook.