New Jersey § 12a:2a-308

§ 12a:2a-308.

(1) A creditor of a lessor in possession of goods subject to a lease contract may

treat the lease contract as void if as against the creditor retention of possession

by the lessor is fraudulent under any statute or rule of law, but retention of possession

in good faith and current course of trade by the lessor for a commercially reasonable

time after the lease contract becomes enforceable is not fraudulent. (2) Nothing in this chapter impairs the rights of creditors of a lessor if the lease

contract (a) becomes enforceable, not in current course of trade but in satisfaction

of or as security for a pre-existing claim for money, security, or the like, and (b)

is made under circumstances which under any statute or rule of law apart from this

chapter would constitute the transaction a fraudulent transfer or voidable preference. (3) A creditor of a seller may treat a sale or an identification of goods to a contract

for sale as void if as against the creditor retention of possession by the seller

is fraudulent under any statute or rule of law, but retention of possession of the

goods pursuant to a lease contract entered into by the seller as lessee and the buyer

as lessor in connection with the sale or identification of the goods is not fraudulent

if the buyer bought for value and in good faith.