New Jersey § 12a:2-506
Full text of New Jersey New Jersey Statutes § 12a:2-506, with citation guidance and answers to common questions.
§ 12a:2-506.
(1) A financing agency by paying or purchasing for value a draft which relates to
a shipment of goods acquires to the extent of the payment or purchase and in addition
to its own rights under the draft and any document of title securing it any rights
of the shipper in the goods including the right to stop delivery and the shipper's
right to have the draft honored by the buyer. (2) The right to reimbursement of a financing agency which has in good faith honored
or purchased the draft under commitment to or authority from the buyer is not impaired
by subsequent discovery of defects with reference to any relevant document which was
apparently regular .
Frequently Asked Questions About New Jersey § 12a:2-506
What does New Jersey Statutes § 12a:2-506 cover?
Section 12a:2-506 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:2-506?
A common citation format is "New Jersey Statutes § 12a:2-506" (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:2-506 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.