42:5-2 - Debtor to take creditor's memorandum; use in evidence - New Jersey Statutes

42:5-2.  Debtor to take creditor's memorandum;  use in evidence
    Every partner making a composition or compromise under authority of section  42:5-1 of this title shall take from the creditors with whom he may make the  same, a note or memorandum, in writing, exonerating him from any individual  liability incurred by reason of his connection with such partnership, which  note or memorandum may be pleaded in bar of the creditors' rights of recovery  against him.