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Terms Used In New Jersey Statutes 2A:19-48

  • general assignment: includes an assignment by a debtor made under section 2A:20-6 of this title. See New Jersey Statutes 2A:19-1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
When a general assignment is made by partners in business, it may include only the partnership property or it may include also the several estates of the partners; or any of the partners may also make a separate general assignment of his individual estate.

L.1951 (1st SS), c.344.