New Jersey § 12a:2a-503
Full text of New Jersey New Jersey Statutes § 12a:2a-503, with citation guidance and answers to common questions.
§ 12a:2a-503.
(1) Except as otherwise provided in this chapter, the lease agreement may include
rights and remedies for default in addition to or in substitution for those provided
in this chapter and may limit or alter the measure of damages recoverable under this
chapter. (2) Resort to a remedy provided under this chapter or in the lease agreement is optional
unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose,
or provision for an exclusive remedy is unconscionable, remedy may be had as provided
in this chapter. (3) Consequential damages may be liquidated under 12A:2A-504, or may otherwise be
limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury to the
person in the case of consumer goods is prima facie unconscionable but limitation,
alteration, or exclusion of damages where the loss is commercial is not prima facie
unconscionable. (4) Rights and remedies on default by the lessor or the lessee with respect to any
obligation or promise collateral or ancillary to the lease contract are not impaired
by this chapter.
Frequently Asked Questions About New Jersey § 12a:2a-503
What does New Jersey Statutes § 12a:2a-503 cover?
Section 12a:2a-503 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:2a-503?
A common citation format is "New Jersey Statutes § 12a:2a-503" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:2a-503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.