New Jersey § 12a:3-415
Full text of New Jersey New Jersey Statutes § 12a:3-415, with citation guidance and answers to common questions.
§ 12a:3-415.
a. Subject to subsections b., c., d. and e. of this section and to subsection d. of
12A:3-419, if an instrument is dishonored, an indorser is obliged to pay the amount
due on the instrument according to the terms of the instrument at the time it was
indorsed, or if the indorser indorsed an incomplete instrument, according to its terms
when completed, to the extent stated in 12A:3-115 and 12A:3-407. The obligation of the indorser is owed to a person entitled to enforce the instrument
or to a subsequent indorser who paid the instrument under this section. b. If an indorsement states that it is made “without recourse” or otherwise disclaims
liability of the indorser, the indorser is not liable under subsection a. of this
section to pay the instrument. c. If notice of dishonor of an instrument is required by 12A:3-503 and notice of dishonor
complying with that section is not given to an indorser, the liability of the indorser
under subsection a. of this section is discharged. d. If a draft is accepted by a bank after an indorsement is made, the liability of
the indorser under subsection a. of this section is discharged. e. If an indorser of a check is liable under subsection a. of this section and the
check is not presented for payment, or given to a depositary bank for collection,
within 30 days after the day the indorsement was made, the liability of the indorser
under subsection a. of this section is discharged.
Frequently Asked Questions About New Jersey § 12a:3-415
What does New Jersey Statutes § 12a:3-415 cover?
Section 12a:3-415 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:3-415?
A common citation format is "New Jersey Statutes § 12a:3-415" (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:3-415 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.