New Jersey § 12a:3-118
Full text of New Jersey New Jersey Statutes § 12a:3-118, with citation guidance and answers to common questions.
§ 12a:3-118.
a. Except as provided in subsection e. of this section, an action to enforce the obligation
of a party to pay a note payable at a definite time must be commenced within six years
after the due date or dates stated in the note or, if a due date is accelerated, within
six years after the accelerated due date. b. Except as provided in subsection d. or e. of this section, if demand for payment
is made to the maker of a note payable on demand, an action to enforce the obligation
of a party to pay the note must be commenced within six years after the demand. If no demand for payment is made to the maker, an action to enforce the note is
barred if neither principal nor interest on the note has been paid for a continuous
period of 10 years. c. Except as provided in subsection d. of this section, an action to enforce the obligation
of a party to an unaccepted draft to pay the draft must be commenced within three
years after dishonor of the draft or 10 years after the date of the draft, whichever
period expires first. d. An action to enforce the obligation of the acceptor of a certified check or the
issuer of a teller's check, cashier's check, or traveler's check must be commenced
within three years after demand for payment is made to the acceptor or issuer, as
the case may be. e. An action to enforce the obligation of a party to a certificate of deposit to pay
the instrument must be commenced within six years after demand for payment is made
to the maker, but if the instrument states a due date and the maker is not required
to pay before that date, the six-year period begins when a demand for payment is in
effect and the due date has passed. f. An action to enforce the obligation of a party to pay an accepted draft, other
than a certified check, must be commenced within six years after the due date or dates
stated in the draft or acceptance if the obligation of the acceptor is payable at
a definite time, or within six years after the date of the acceptance if the obligation
of the acceptor is payable on demand. g. Unless governed by other law regarding claims for indemnity or contribution, an
action for conversion of an instrument, for money had and received, or like action
based on conversion, for breach of warranty, or to enforce an obligation, duty, or
right arising under this chapter and not governed by this section must be commenced
within three years after the cause of action accrues.
Frequently Asked Questions About New Jersey § 12a:3-118
What does New Jersey Statutes § 12a:3-118 cover?
Section 12a:3-118 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:3-118?
A common citation format is "New Jersey Statutes § 12a:3-118" (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:3-118 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.