New Jersey § 31:1-3
Full text of New Jersey New Jersey Statutes § 31:1-3, with citation guidance and answers to common questions.
§ 31:1-3.
In all actions to enforce any note, bill, bond, mortgage, contract, covenant, conveyance,
or assurance, for the payment or delivery of any money, wares, merchandise, goods,
or chattels lent, and on which a higher rate of interest shall be reserved or taken
than was or is allowed by the law of the place where the contract was made or is to
be performed, the amount or value actually lent, without interest or costs of the
action, may be recovered, and no more. If any premium or illegal interest shall have been paid to the lender, the sum or
sums so paid shall be deducted from the amount that may be due as aforesaid, and recovery
had for the balance only.
Frequently Asked Questions About New Jersey § 31:1-3
What does New Jersey Statutes § 31:1-3 cover?
Section 31:1-3 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 § 31:1-3?
A common citation format is "New Jersey Statutes § 31:1-3" (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 § 31:1-3 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.