Secured party not obligated on contract of debtor or in tort

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  4. Secured party not obligated on contract of debtor or in tort

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12A:9-402. Secured party not obligated on contract of debtor or in tort

12A:9-402. Secured Party Not Obligated on Contract of Debtor or in Tort.

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.

L.2001, c.117, s.1.


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