Auto Lenders Acceptance Corporation, Plaintiff v. Gentilini Ford, Inc., Defendant and Third Party…

Summary

The Supreme Court of New Jersey held that Gentilini Ford suffered a direct loss of business personal property from employee Randy Carpenter’s fraudulent credit applications, that the employee‑dishonesty endorsement overrides the automobile exclusion, that each of the twenty‑seven fraudulent sales constitutes a separate occurrence, and that the appropriate manifest‑intent analysis is the substantial‑certainty test, thus reversing the appellate court’s summary‑judgment grant and remanding for further fact‑finding.