New Jersey Statutes 25:2-31. Extinguishment of claim for relief
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Terms Used In New Jersey Statutes 25:2-31
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
25:2-31. Extinguishment of claim for relief.
A claim for relief with respect to a transfer or obligation under this article is extinguished unless action is brought:
a. Under paragraph (1) of subsection a. of R.S.25:2-25, not later than four years after the transfer was made or the obligation was incurred or, if later, not later than one year after the transfer or obligation was discovered by the claimant;
b. Under paragraph (2) of subsection a. of R.S.25:2-25 or subsection a. of R.S.25:2-27, not later than four years after the transfer was made or the obligation was incurred; or
c. Under paragraph (2) of subsection a. of R.S.25:2-27, not later than one year after the transfer was made.
amended 2002, c.100; 2021, c.92, s.12.