42:5-3 - Discharge of judgment debt by filing acknowledged memorandum - New Jersey Statutes

42:5-3.  Discharge of judgment debt by filing acknowledged memorandum
    If the individual liability of a partner is upon a judgment of any court of  record in this state, the clerk of such court shall, upon the filing with him  of the note or memorandum mentioned in section 42:5-2 of this title, acknowledged by the parties making it as satisfactions of judgments are required to be acknowledged, discharge such judgment of record in so far as the  compromising partner is concerned, and the ratable portion of the partner so  released shall be credited as a payment on account of the judgment.