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Susan Fricano and Dominic Fricano v. Dominic Pugliese and Giovanna Pugliese

July 5, 2011

SUSAN FRICANO AND DOMINIC FRICANO, PLAINTIFFS-RESPONDENTS,
v.
DOMINIC PUGLIESE AND GIOVANNA PUGLIESE, DEFENDANTS, AND PIETRO DILISCIANDRO, DEFENDANT-APPELLANT, AND RAINBOW MORTGAGE, DALIA SHULER AND MCCOLLUM INSURANCE ABSTRACT & TITLE AGENCY,
DEFENDANTS.



On appeal from the Superior Court of New Jersey, Law Division, Gloucester County, Docket No. L-177-08.

Per curiam.

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION

Submitted June 23, 2011

Before Judges Fisher and Grall.

This appeal has its genesis in an agreement, which called for the sale of a pizzeria business and the realty upon which it was conducted by plaintiffs Susan and Dominic Fricano (sellers) to defendants Dominic and Giovanna Pugliese (buyers) for $350,000. The buyers retained defendant Pietro Dilisciandro (defendant), a mortgage broker, to assist in arranging financing for the transaction. By the time of closing, however, the buyers were unable to obtain financing and the transfer was completed by the buyers providing the sellers with an unsecured $218,000 promissory note. Soon thereafter, the buyers were unable to make the payments required by the note, causing a default in the note's terms and, eventually, buyers' filing of a bankruptcy petition.

The sellers commenced this action, which included a claim against defendant, the mortgage broker, alleging he was negligent and made negligent misrepresentations before and at the closing. At the conclusion of a non-jury trial that involved only the claims against defendant, the trial judge made findings in which she described how defendant's role in the settlement expanded. The judge found that defendant advised and convinced sellers that they did not require the services of an attorney and that, if the buyers ever defaulted, they would be able to "take back their business property and ...


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