New Jersey § 12A:2A-522 Lessee's right to goods on lessor's insolvency

New Jersey Statutes

§ 12A:2A-522 — Lessee's right to goods on lessor's insolvency

New Jersey § 12A:2A-522

Title 12ACOMMERCIAL TRANSACTIONS

This text of New Jersey § 12A:2A-522 (Lessee's right to goods on lessor's insolvency) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 12A:2A-522 (2026).

Text

12A:2A-522. Lessee's right to goods on lessor's insolvency.

(1)Subject to subsection (2) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (12A:2A-217) on making and keeping good a tender of any unpaid portion of the rent and security due under the lease contract may recover the goods identified from the lessor if the lessor becomes insolvent within 10 days after receipt of the first installment of rent and security.

(2)A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract. L.1994,c.114,s.1.

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12A:2A-522. Lessee's right to goods on lessor's insolvency. (1) Subject to subsection (2) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (12A:2A-217) on making and keeping good a tender of any unpaid portion of the rent and security due under the lease contract may recover the goods identified from the lessor if the lessor becomes insolvent within 10 days after receipt of the first installment of rent and security. (2) A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract. L.1994,c.114,s.1.