News & Noteworthy

Authored - NJ Contract Law Update - Choosing Four or Six Year Statute of Limitations for Debt Involving Goods
JUNE 17, 2014 | Windels Marx - Commercial Litigation

In addition to matters of interest that go beyond the scope of these articles -- e.g., the scope of the Federal Fair Debt Collection Practices Act--New Century Financial Services, Inc. v. McNamara, ___ N.J.Super. ____, 2014 WL 1057076 (N.J.App.Div. March 2014), is enlightening as to which statute of limitation (SOL) applies to a contract matter involving the sale of goods. Obviously, the two-year SOL relating to personal injuries and the like is inapplicable; but the question remains whether, in a given setting involving both financial documents and sale of goods, the claim sued upon is one for the sale of goods, thus governed by the four-year SOL, N.J.S.A. 12A:2-725; or instead is a suit on contract that is governed by the six-year SOL, N.J.S.A. 2A:14-1.

If this issue might be germane to your case, New Century should be consulted.

Contact & Legal Disclaimer

Clark Alpert is the author of Guide to New Jersey Contract Law, published by the New Jersey Institute for Continuing Legal Education and now in its third edition. His updates on New Jersey contract law are based on recent issues and practical methods for addressing similar situations in your practice or business. They are not intended to serve as legal advice. Clark welcomes your questions and comments.

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