2A:19-1. Definitions.
2A:19-1. As used in this chapter:
a. "General assignment" means a transfer or conveyance by a debtor in writing, whereby the debtor transfers or conveys to an assignee, in trust for the benefit of his creditors, all of his property. A "general assignment" includes an assignment by a debtor made under section 2A:20-6 of this title.
b. "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.
c. "Court" means the Superior Court.
d. "Creditor" includes any person to whom a debt is due.
e. "Debt" includes any debt, demand or claim.
f. "Assignor" means any debtor who has executed a general assignment.
g. "Assignee" means an assignee under a general assignment, including an assignee appointed under chapter 20 of this title.
L.1951 (1st SS), c.344; amended 1991,c.91,s.70.
2A:19-2. Assignments must be for equal benefit; preferences void
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.
