New Jersey § 12a:2-702
Full text of New Jersey New Jersey Statutes § 12a:2-702, with citation guidance and answers to common questions.
§ 12a:2-702.
(1) Where the seller discovers the buyer to be insolvent he may refuse delivery except
for cash including payment for all goods theretofore delivered under the contract,
and stop delivery under this chapter (12A:2-705). (2) Where the seller discovers that the buyer has received goods on credit while insolvent
he may reclaim the goods upon demand made within 10 days after the receipt, but if
misrepresentation of solvency has been made to the particular seller in writing within
3 months before delivery the 10 day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim
goods on the buyer's fraudulent or innocent misrepresentation of solvency or of intent
to pay. (3) The seller's right to reclaim under subsection (2) is subject to the rights of
a buyer in ordinary course or other good faith purchaser under this chapter (12A:2-403). Successful reclamation of goods excludes all other remedies with respect to them.
Frequently Asked Questions About New Jersey § 12a:2-702
What does New Jersey Statutes § 12a:2-702 cover?
Section 12a:2-702 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:2-702?
A common citation format is "New Jersey Statutes § 12a:2-702" (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:2-702 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.