Terms Used In New Jersey Statutes 39:10-29

  • 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.
  • 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
4. Any agreement of retail sale may contain a provision whereby the purchaser waives the dealer’s obligation under section 2 of P.L.1971, c.76 (C. 39:10-27); provided, however, a waiver shall be separately stated in the agreement of retail sale and separately signed by the purchaser, and further provided that such a waiver shall include a brief description of known defects that may need to be resolved in order to obtain a certificate of approval for the motor vehicle pursuant to R.S.39:8-2 or R.S.39:8-3. The signing of a waiver by the purchaser shall also serve to eliminate any criminal responsibility placed upon any motor vehicle dealer by P.L.1971, c.76 (C. 39:10-26 et seq.).

L.1971, c.76, s.4; amended 2017, s.182, s.1.

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