Supreme Court of New Jersey
John P. Langeveld, Plaintiff-Respondent v. L. R. Z. H. Corporation, a Corporation of the State of New Jersey, Et…
July 21, 197774 N.J. 45
Summary
The Supreme Court of New Jersey reversed the Appellate Division and remanded for a full hearing to determine whether plaintiff's failure to timely record a mortgage constituted an unjustifiable impairment of collateral that discharges the guarantor under N.J.S.A. 12A:3-606; the court held that summary judgment was improper because the extent of impairment and any prejudice must be factually assessed.