New Jersey § 2a:16-9
Full text of New Jersey New Jersey Statutes § 2a:16-9, with citation guidance and answers to common questions.
§ 2a:16-9.
a. (1) No provider of business financing shall extend business financing to a concern
in this State that contains a judgment by confession. (2) No judgment shall be entered on warrant of attorney in any action on a bond or
other instrument for the payment of money, except on motion after notice to the defendant
served in lieu of summons in accordance with applicable court rules or by registered
or certified mail. b. A provision of any contract for business financing that provides for a judgment
by confession that does not meet the requirements of subsection a. of this section
shall be invalid and unenforceable against any concern. c. As used in this section: “ Business financing ” means a loan, line of credit, cash advance, factoring or asset-based transaction
made for a business purpose. “ Concern ” means any trade, business or professional entity conducted for profit, and includes,
but is not limited to, individuals, partnerships, corporations, joint ventures, associations
and cooperatives. “ Judgment by confession ” means a written agreement that accepts liability and specifies damages in cases
in which a concern is in violation of a business financing agreement.
Frequently Asked Questions About New Jersey § 2a:16-9
What does New Jersey Statutes § 2a:16-9 cover?
Section 2a:16-9 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 § 2a:16-9?
A common citation format is "New Jersey Statutes § 2a:16-9" (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 § 2a:16-9 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.