New Jersey § 12a:4a-304
Full text of New Jersey New Jersey Statutes § 12a:4a-304, with citation guidance and answers to common questions.
§ 12a:4a-304.
If the sender of a payment order that is erroneously executed as stated in section 12A:4A-303 receives notification from the receiving bank that the order was executed or that
the sender's account was debited with respect to the order, the sender has a duty
to exercise ordinary care to determine, on the basis of information available to the
sender, that the order was erroneously executed and to notify the bank of the relevant
facts within a reasonable time not exceeding 90 days after the notification from the
bank was received by the sender. If the sender fails to perform that duty, the bank is not obliged to pay interest
on any amount refundable to the sender under section 12A:4A-402(4) for the period before the bank learns of the execution error. The bank is not entitled to any recovery from the sender on account of a failure
by the sender to perform the duty stated in this section.
Frequently Asked Questions About New Jersey § 12a:4a-304
What does New Jersey Statutes § 12a:4a-304 cover?
Section 12a:4a-304 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:4a-304?
A common citation format is "New Jersey Statutes § 12a:4a-304" (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:4a-304 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.