New Jersey § 12a:2a-505
Full text of New Jersey New Jersey Statutes § 12a:2a-505, with citation guidance and answers to common questions.
§ 12a:2a-505.
(1) On cancellation of the lease contract, all obligations that are still executory
on both sides are discharged, but any right based on prior default or performance
survives, and the cancelling party also retains any remedy for default of the whole
lease contract or any unperformed balance. (2) On termination of the lease contract, all obligations that are still executory
on both sides are discharged but any right based on prior default or performance survives. (3) Unless the contrary intention clearly appears, expressions of “cancellation,”
“rescission,” or the like of the lease contract may not be construed as a renunciation
or discharge of any claim in damages for an antecedent default. (4) Rights and remedies for material misrepresentation or fraud include all rights
and remedies available under this chapter for default. (5) Neither rescission nor a claim for rescission of the lease contract nor rejection
or return of the goods may bar or be deemed inconsistent with a claim for damages
or other right or remedy.
Frequently Asked Questions About New Jersey § 12a:2a-505
What does New Jersey Statutes § 12a:2a-505 cover?
Section 12a:2a-505 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-505?
A common citation format is "New Jersey Statutes § 12a:2a-505" (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-505 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.