New Jersey Statutes 2A:55-3. Real sum due considered as the debt; judgment for penalty; discharge
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Terms Used In New Jersey Statutes 2A:55-3
- Contract: A legal written agreement that becomes binding when signed.
- Plaintiff: The person who files the complaint in a civil lawsuit.
When an action is brought or a claim is made in an action on a bond, note or other contract containing a penalty to secure the payment of money only, the true sum due and not the penalty, shall be deemed to be the debt due. In all such actions or claims wherein the plaintiff or claimant shall succeed, judgment shall be entered only for such amount as the case may require, with interest until paid.
L.1951 (1st SS), c.344.