New Jersey § 12a:9-321
Full text of New Jersey New Jersey Statutes § 12a:9-321, with citation guidance and answers to common questions.
§ 12a:9-321.
(a) “Licensee in ordinary course of business.” In this section, “ licensee in ordinary course of business ” means a person that becomes a licensee of a general intangible in good faith, without knowledge that
the license violates the rights of another person in the general intangible, and in
the ordinary course from a person in the business of licensing general intangibles
of that kind. A person becomes a licensee in the ordinary course if the license to the person
comports with the usual or customary practices in the kind of business in which the
licensor is engaged or with the licensor's own usual or customary practices. (b) Rights of licensee in ordinary course of business. A licensee in ordinary course of business takes its rights under a nonexclusive
license free of a security interest in the general intangible created by the licensor,
even if the security interest is perfected and the licensee knows of its existence. (c) Rights of lessee in ordinary course of business. A lessee in ordinary course of business takes its leasehold interest free of a security
interest in the goods created by the lessor, even if the security interest is perfected
and the lessee knows of its existence.
Frequently Asked Questions About New Jersey § 12a:9-321
What does New Jersey Statutes § 12a:9-321 cover?
Section 12a:9-321 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:9-321?
A common citation format is "New Jersey Statutes § 12a:9-321" (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:9-321 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.