New Jersey Statutes 56:12-1. Definitions
Terms Used In New Jersey Statutes 56:12-1
- Contract: A legal written agreement that becomes binding when signed.
- Personal property: All property that is not real property.
- Personal property: includes goods and chattels, rights and credits, moneys and effects, evidences of debt, choses in action and all written instruments by which any right to, interest in, or lien or encumbrance upon, property or any debt or financial obligation is created, acknowledged, evidenced, transferred, discharged or defeated, in whole or in part, and everything except real property as herein defined which may be the subject of ownership. See New Jersey Statutes 1:1-2
“Consumer contract” means a written agreement in which an individual:
a. Leases or licenses real or personal property;
b. Obtains credit;
c. Obtains insurance coverage, except insurance coverage contained in policies subject to the “Life and Health Insurance Policy Language Simplification Act,” P.L.1979, c.167 (C. 17B:17-17 et seq.);
d. Borrows money;
e. Purchases real or personal property;
f. Contracts for services including professional services;
g. Enters into a service contract, as defined in section 1 of P.L.2013, c.197 (C. 56:12-87),
for cash or on credit and the money, property or services are obtained for personal, family or household purposes. “Consumer contract” includes writings required to complete the consumer transaction. “Consumer contract” does not include a written agreement involving a transaction in securities with a broker-dealer registered with the Securities and Exchange Commission, or a transaction in commodities with a futures commission merchant registered with the Commodity Futures Trading Commission.
L.1980, c.125, s.1; amended 1981, c.464, s.1 (s.11 amended 1982, c.88, s.6); 1982, c.195; 2013, c.197, s.11.