New Jersey § 56:12-71
Full text of New Jersey New Jersey Statutes § 56:12-71, with citation guidance and answers to common questions.
§ 56:12-71.
As used in this act: “ Buyer ” means a person who buys or leases a motor vehicle under a conditional sale contract. “ Conditional sale contract ” means any contract for the leasing of a motor vehicle between a buyer and a seller,
with or without accessories, by which the lessee agrees to pay as compensation for
use a sum substantially equivalent to or in excess of the aggregate value of the vehicle
and its accessories, if any, at the time the contract is executed, and by which it
is agreed that the lessee will become, or for no other or for a nominal consideration
has the option of becoming, the owner of the vehicle upon full compliance with the
terms of the contract. “ Lease contract ” means a contract for or in contemplation of the lease for the use of a motor vehicle,
and the purchase of services incidental to the lease, for a term exceeding four months
primarily for personal, family, household, business or commercial purposes, whether
or not it is agreed that the lessee bears the risk of the motor vehicle's depreciation. “ Lessee ” includes a bailee and means a person who leases, offers to lease or is offered the
lease of a motor vehicle under a lease contract. “ Motor vehicle ” means any vehicle required to be registered under Title 39 of the Revised Statutes. “ Person ” means an individual, company, firm, association, partnership, trust, corporation,
or other legal entity. “ Security agreement ” means an agreement that creates and provides for a security interest. “ Security interest ” means an interest in personal property which secures the payment or performance
of an obligation. “ Seller ” means a person engaged in the business of selling or leasing motor vehicles under
a conditional sale contract.
Frequently Asked Questions About New Jersey § 56:12-71
What does New Jersey Statutes § 56:12-71 cover?
Section 56:12-71 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 § 56:12-71?
A common citation format is "New Jersey Statutes § 56:12-71" (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 § 56:12-71 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.