N.J.S.A. 12A:9-319 — Rights and title of consignee with respect to creditors and purchasers.

12A:9-319 Rights and title of consignee with respect to creditors and purchasers. 12A:9-319. Rights and Title of Consignee with Respect to Creditors and Purchasers. (a) Consignee has consignor's rights. Except as otherwise provided in subsection (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer. (b) Applicability of other law. For purposes of determining the rights of a creditor of a consignee, law other than this chapter determines the rights and title of a consignee while goods are in the consignee's possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor. L.2001, c.117, s.1; amended 2001, c.386, s.35.

This is the verbatim text of N.J.S.A. 12A:9-319, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.