Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In New Jersey Statutes 12A:4-111

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
An action to enforce an obligation, duty, or right arising under this chapter must be commenced within three years after the cause of action accrues.

L.1995,c.28,s.2.