New Jersey § 3b:14-55
Full text of New Jersey New Jersey Statutes § 3b:14-55, with citation guidance and answers to common questions.
§ 3b:14-55.
If a check or other bill of exchange is drawn by a fiduciary as such or in the name
of his principal by a fiduciary empowered to draw the instrument in the name of his
principal, payable to the fiduciary personally, or payable to a third person and by
him transferred to the fiduciary, and is thereafter transferred by the fiduciary,
whether in payment of a personal debt of the fiduciary or otherwise, the transferee
is not bound to inquire whether the fiduciary is committing a breach of his obligation
as fiduciary in transferring the instrument, and is not chargeable with notice that
the fiduciary is committing a breach of his obligation as fiduciary unless he takes
the instrument with actual knowledge of the breach or with knowledge of facts that
his action in taking the instrument amounts to bad faith.
Frequently Asked Questions About New Jersey § 3b:14-55
What does New Jersey Statutes § 3b:14-55 cover?
Section 3b:14-55 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 § 3b:14-55?
A common citation format is "New Jersey Statutes § 3b:14-55" (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 § 3b:14-55 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.