New Jersey Statutes 39:10-40. Definitions
Terms Used In New Jersey Statutes 39:10-40
- Debtor: means the person who owes payment or other performance of the obligation secured by a security interest in a motor vehicle. See New Jersey Statutes 39:10-2
- Electronic: means relating to technology having electrical, digital, magnetic, optical, electromagnetic, or similar capabilities. See New Jersey Statutes 39:10-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Licensee: means any person that is licensed to buy, sell or deal in, or lease motor vehicles pursuant to R. See New Jersey Statutes 39:10-2
- Person: includes natural persons, firms or copartnerships, corporations, associations, or other artificial bodies, receivers, trustees, common law or statutory assignees, executors, administrators, sheriffs, constables, marshals, or other persons in representative or official capacity, and members, officers, agents, employees, or other representatives of those hereinbefore enumerated. See New Jersey Statutes 39:10-2
- Purchaser: means a person who takes possession of a motor vehicle by transfer of ownership, either for use or resale, except a dealer when he takes possession through a certificate of origin. See New Jersey Statutes 39:10-2
- Security interest: means an interest in a motor vehicle which secures payment or other performance of an obligation. See New Jersey Statutes 39:10-2
“Buyer” includes a purchaser, debtor, lessee, bailee, transferee, and any person buying, attempting to buy, or receiving a motor vehicle subject to a security interest, lease, bailment or transfer agreement, or their legal successors in interest.
“Electronic” means relating to technology having electrical, digital, magnetic, optical, electromagnetic, or similar capabilities.
“Electronic signature” means an electronic symbol, sound, or process attached to, or logically associated with, a record and executed or adopted by an individual with the intent to sign the record.
“Licensee” means any natural person or entity that is licensed to buy, sell or deal in, or lease motor vehicles pursuant to R.S.39:10-19.
“Motor vehicle transaction” means any “sale,” “purchase,” or “online sale” as those terms are defined pursuant to R.S.39:10-2 or any lease as defined pursuant to section 2 of P.L.1994, c.190 (C. 56:12-61), conducted by a licensee.
L.2021, c.462, s.5.