A person for whose benefit a contract is made, either simple or sealed, may sue thereon in any court and may use such contract as a matter of defense in an action against him although the consideration of the contract did not move from him.
N.J. Stat. Ann. § 2A:15-2
Beneficiary in contract suing or defending
Known as the Punitive Damages Act
The act spans §§ 2–2 (79 sections).
Applied in 2 court decisions — leading case First National State Bank of New Jersey v. Commonwealth Federal Savings & Loan Ass'n of Norristown (1979)
Most recently applied in First National State Bank Of New Jersey v. Commonwealth Federal Savings And Loan Association Of Norristown (January 1980)
L.1951 (1st SS), c.344.
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.