New Jersey Statutes 17:16C-37. Power of attorney to confess judgment; other powers of attorney
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Terms Used In New Jersey Statutes 17:16C-37
- Contract: A legal written agreement that becomes binding when signed.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any power of attorney to confess judgment or any other power of attorney and any such provision shall be void and unenforceable.
L.1960, c. 40, p. 155, s. 37. Amended by L.1971, c. 409, s. 8.