31:1-4 - Borrower may compel discovery, and acceptance of principal alone - New Jersey Statutes

31:1-4.  Borrower may compel discovery, and acceptance of principal alone
    Any borrower of money or other personal property may by action in the Superior Court against the lender, or in any discovery proceeding, compel him to discover, upon oath, the money or other personal property really lent, and all agreements, devices, shifts, bargains, contracts and conveyances which shall have passed between them relative to such loan, or the repayment thereof,  and the interest or consideration for the same.  If thereupon it shall appear  that more than lawful interest was taken or reserved the lender shall be  obliged to accept his principal money, or the personal property or the value  thereof, without any interest or other consideration, and to pay costs.

     Amended by L.1953, c. 30, p. 551, s. 3.