Secured party not obligated on contract of debtor or in tort
Known as the Uniform Commercial Code
The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).
L.2001, c.117, s.1.
Secured Party Not Obligated on Contract of Debtor or in Tort.
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.