New Jersey § 12a:3-503
Full text of New Jersey New Jersey Statutes § 12a:3-503, with citation guidance and answers to common questions.
§ 12a:3-503.
a. The obligation of an indorser stated in subsection a. of 12A:3-415 and the obligation
of a drawer stated in subsection d. of 12A:3-414 may not be enforced unless the indorser
or drawer is given notice of dishonor of the instrument complying with this section
or notice of dishonor is excused under subsection b. of 12A:3-504. b. Notice of dishonor may be given by any person; may be given by any commercially
reasonable means, including an oral, written, or electronic communication; and is
sufficient if it reasonably identifies the instrument and indicates that the instrument
has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor. c. Subject to subsection c. of 12A:3-504, with respect to an instrument taken for
collection by a collecting bank, notice of dishonor must be given by the bank before
midnight of the next banking day following the banking day on which the bank receives
notice of dishonor of the instrument, or by any other person within 30 days following
the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within 30
days following the day on which dishonor occurs.
Frequently Asked Questions About New Jersey § 12a:3-503
What does New Jersey Statutes § 12a:3-503 cover?
Section 12a:3-503 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:3-503?
A common citation format is "New Jersey Statutes § 12a:3-503" (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:3-503 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.