New Jersey Statutes 12A:2A-515. Acceptance of goods
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Terms Used In New Jersey Statutes 12A:2A-515
- Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See New Jersey Statutes 12A:2A-103
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (12A:2A-309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See New Jersey Statutes 12A:2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See New Jersey Statutes 12A:2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See New Jersey Statutes 12A:2A-103
- Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See New Jersey Statutes 12A:2A-103
12A:2A-515. Acceptance of goods.
(1) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and
(a) the lessee signifies or acts with respect to the goods in a manner that signifies to the lessor or the supplier that the goods are conforming or that the lessee will take or retain them in spite of their nonconformity; or
(b) the lessee fails to make an effective rejection of the goods (12A:2A-509(2)).
(2) Acceptance of a part of any commercial unit is acceptance of that entire unit.
L.1994,c.114,s.1.