New Jersey Statutes 52:18A-241. Payment of incurred claims, damages, losses, liabilities or costs by development authority
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Terms Used In New Jersey Statutes 52:18A-241
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
7. In the exercise of powers granted by P.L.2000, c.72 (C. 18A:7G-1 et al.) and P.L.2007, c.137 (C. 52:18A-235 et al.) in connection with any school facilities project, any and all claims, damages, losses, liabilities or costs that the development authority may incur shall be payable only from the amounts made available to the development authority pursuant to P.L.2000, c.72 (C. 18A:7G-1 et al.) and P.L.2007, c.137 (C. 52:18A-235 et al.). In connection with any agreement or contract entered into by the development authority relating to any school facilities project, there shall be no recovery against the development authority for punitive or consequential damages arising out of contract nor shall there be any recovery against the development authority for claims based upon implied warranties or upon contracts implied in law.
L.2007, c.137, s.7.