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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS

    Chapter 9:

      Section: 12A:9-402: Secured party not obligated on contract of debtor or in tort

          
12A:9-402. 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.

L.2001, c.117, s.1.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 12a:9-402 (if available):



Court decisions that cite this statute: CLICK HERE.