New Jersey Statutes 2A:19-2. Assignments must be for equal benefit; preferences void
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Terms Used In New Jersey Statutes 2A:19-2
- Assignee: means an assignee under a general assignment, including an assignee appointed under chapter 20 of this title. See New Jersey Statutes 2A:19-1
- Creditor: includes any person to whom a debt is due. See New Jersey Statutes 2A:19-1
- Debtor: means any person liable on a debt, including any person in actual confinement or discharged under bond pursuant to chapter 20 of this title. See New Jersey Statutes 2A:19-1
- general assignment: includes an assignment by a debtor made under section 2A:20-6 of this title. See New Jersey Statutes 2A:19-1
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
Every general assignment made by a debtor residing in this state shall be made for the equal benefit of his creditors in proportion to their several demands, to the extent of the net amount that shall come to the hands of the assignee for distribution. All preferences attempted to be made in any such assignment of one creditor over another, or whereby any one creditor shall be first paid or have a greater proportion in respect of his claim than another, shall be deemed fraudulent and shall render the assignment void.
L.1951 (1st SS), c.344.