New Jersey Statutes 30:4C-29.5. Compromise and settlement of claims
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Terms Used In New Jersey Statutes 30:4C-29.5
- Lien: A claim against real or personal property in satisfaction of a debt.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
The bureau is authorized to compromise and make settlement of any claim for which any lien is filed under the provisions of this act and the making and consummation of any such compromise shall be sufficient authorization for the discharge thereof.
L.1962, c. 142, s. 5. Amended by L.1964, c. 102, s. 24.