New Jersey § 12a:2a-407
Full text of New Jersey New Jersey Statutes § 12a:2a-407, with citation guidance and answers to common questions.
§ 12a:2a-407.
(1) In the case of a finance lease that is not a consumer lease the lessee's promises
under the lease contract become irrevocable and independent upon the lessee's acceptance
of the goods. (2) A promise that has become irrevocable and independent under subsection (1): (a) is effective and enforceable between the parties, and by or against third parties
including assignees of the parties, and (b) is not subject to cancellation, termination, modification, repudiation, excuse,
or substitution without the consent of the party to whom the promise runs. (3) This section does not affect the validity under any other law of a covenant in
any lease contract making the lessee's promises irrevocable and independent upon the
lessee's acceptance of the goods.
Frequently Asked Questions About New Jersey § 12a:2a-407
What does New Jersey Statutes § 12a:2a-407 cover?
Section 12a:2a-407 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-407?
A common citation format is "New Jersey Statutes § 12a:2a-407" (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-407 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.