New Jersey § 12a:2-505
Full text of New Jersey New Jersey Statutes § 12a:2-505, with citation guidance and answers to common questions.
§ 12a:2-505.
(1) Where the seller has identified goods to the contract by or before shipment: (a) his procurement of a negotiable bill of lading to his own order or otherwise reserves
in him a security interest in the goods. His procurement of the bill to the order of a financing agency or of the buyer indicates
in addition only the seller's expectation of transferring that interest to the person
named. (b) a non-negotiable bill of lading to himself or his nominee reserves possession
of the goods as security but except in a case of conditional delivery (subsection
(2) of 12A:2-507) a non-negotiable bill of lading naming the buyer as consignee reserves
no security interest even though the seller retains possession or control of the bill of lading. (2) When shipment by the seller with reservation of a security interest is in violation
of the contract for sale it constitutes an improper contract for transportation within
the preceding section but impairs neither the rights given to the buyer by shipment
and identification of the goods to the contract nor the seller's powers as a holder
of a negotiable document of title .
Frequently Asked Questions About New Jersey § 12a:2-505
What does New Jersey Statutes § 12a:2-505 cover?
Section 12a:2-505 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:2-505?
A common citation format is "New Jersey Statutes § 12a:2-505" (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:2-505 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.