42:5-1 - Separate compromise with creditors by individual partner
42:5-1.Ā Separate compromise with creditors by individual partner
Whenever any partnership has been or shall be dissolved by mutual consent orĀ otherwise, any partner may make a separate composition or compromise with anyĀ one or all of the creditors of such partnership, and such composition or compromise shall be a full discharge to the partner making the same, and to himĀ only, of and from all liability, incurred by reason of his connection with theĀ partnership, to the creditors with whom the compromise is made.
Ā
Whenever any partnership has been or shall be dissolved by mutual consent orĀ otherwise, any partner may make a separate composition or compromise with anyĀ one or all of the creditors of such partnership, and such composition or compromise shall be a full discharge to the partner making the same, and to himĀ only, of and from all liability, incurred by reason of his connection with theĀ partnership, to the creditors with whom the compromise is made.
Ā