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7 chapters · 286 sections in this title.
N.J.S.A. 42:5-1 Separate compromise with creditors by individual partner
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42:5-1. Separate compromise with creditors by individual partner Whenever any partnership has been or shall be dissolved by mutual consent or otherwise, any partner may make a separate composition or compromise with any one or all of the creditors of such partnership, and such co…
N.J.S.A. 42:5-2 Debtor to take creditor's memorandum; use in evidence
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42:5-2. Debtor to take creditor's memorandum; use in evidence Every partner making a composition or compromise under authority of section 42:5-1 of this title shall take from the creditors with whom he may make the same, a note or memorandum, in writing, exonerating him from any …
N.J.S.A. 42:5-3 Discharge of judgment debt by filing acknowledged memorandum
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42:5-3. Discharge of judgment debt by filing acknowledged memorandum If the individual liability of a partner is upon a judgment of any court of record in this state, the clerk of such court shall, upon the filing with him of the note or memorandum mentioned in section 42:5-2 of …
N.J.S.A. 42:5-4 Compromise with one partner not to discharge copartners; effect on rights between creditors and copartners
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42:5-4. Compromise with one partner not to discharge copartners; effect on rights between creditors and copartners 1. A compromise or composition with individual members of a partnership shall not: a. Discharge the other copartners; b. Impair the right of any creditor to proceed …
