42:5-1 - Separate compromise with creditors by individual partner - New Jersey Statutes

42:5-1.  Separate compromise with creditors by individual partner
    Whenever any partnership has been or shall be dissolved by mutual consent or  otherwise, any partner may make a separate composition or compromise with any  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 him  only, of and from all liability, incurred by reason of his connection with the  partnership, to the creditors with whom the compromise is made.