N.J. Stat. tit. 2A, ch. 55

N.J. Stat. tit. 2A, ch. 55
in effect

N.J. Stat. § 2A:55-1 Liability of any of joint debtors served; judgment and execution; special judgment as against those served by publication

Where persons are jointly indebted to any other person upon any joint contract, obligation or matter, and in an action thereon by the creditor any of such joint debtors shall be served with process, those served shall answer to the plaintiff, and if judgment shall pass for the plaintiff, he shall have his judgment and execution against those served. The judgment and execution shall be as effective, as to the joint debtor or debtors served, as if all of them had been served and the judgment had been entered against all of them. Judgment in the action may be entered, also, against the other joint debtor or debtors if he or they are named in the process and served by publication or otherwise, as an absent defendant or defendants, in accordance with the practice of the superior court in cases in which the action affects specific property within the jurisdiction of the court; but if such other debtor or debtors do not appear in the action, said judgment shall be special as to them, to be made as to them only of their interest in real and personal property within the state jointly owned by all such joint debtors. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-2 Representatives of 1 joint debtor chargeable as on joint and several obligations

The representative of 1 joint debtor dying in the lifetime of the other joint debtor, may be charged with the obligation in the same manner as the representative might have been charged if the joint debtors had been bound severally as well as jointly. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-3 Real sum due considered as the debt; judgment for penalty; discharge

When an action is brought or a claim is made in an action on a bond, note or other contract containing a penalty to secure the payment of money only, the true sum due and not the penalty, shall be deemed to be the debt due. In all such actions or claims wherein the plaintiff or claimant shall succeed, judgment shall be entered only for such amount as the case may require, with interest until paid. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-4 Payment may be pleaded even though not made according to condition

If, before action is brought on a bond, which has a condition or defeasance to make void the same on payment of a less sum, at a day or place certain, the obligor, his heirs, executors or administrators have paid to the obligee, his executors, administrators or assigns, the principal and interest due by the condition or defeasance of such bond, though such payment was not made strictly according to the condition or defeasance, it may be pleaded in bar, and shall be as effectual a bar to such action as if the money had been paid at the day and place, according to the condition or defeasance, and had been so pleaded. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-5 Defendant may bring money into court with costs, pending action; judgment of discharge

If the defendant shall, at any time pending an action on any bond of the kind mentioned in section 2A:55-4 of this title, with a penalty, bring into the court where the action shall be pending, all the principal money and interest due on such bond, and all such costs as expended in an action upon such bond, the money so brought in shall be deemed and taken to be in full payment and satisfaction of such bond; and the court shall give judgment to discharge the defendant from the same accordingly. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-6 Compromise of joint indebtedness

Joint debtors may individually compromise with their creditors for their joint indebtedness in the same manner and with like effect as partners on the dissolution of the partnership may compromise with their creditors as provided by sections 42:5-1 to 42:5-5 of the title Partnerships and Partnership Associations, of the Revised Statutes. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-7 Settlement or compromise of claims against directors or sureties

In any case where several trustees, managers or directors of any insolvent corporation are liable to an action for unlawfully making any dividend or dividing, withdrawing or reducing capital, or for any default, negligence or malfeasance in the discharge of their duties, and in any case where several sureties on any bond for the performance of any duty or employment are liable to an action for any default, negligence or malfeasance of their principal, the receiver or trustees, or such person, corporation or officer that may bring such action, may settle and compromise with, release and discharge any one or more of the parties so liable, but no compromise or settlement shall be made without the approval first had and obtained from the court by which such receiver or trustee was appointed. Such settlement, compromise, release or discharge shall not affect or constitute any defense to any such action or right of action against the other parties so liable, but in such case the recovery against those not so settled with and discharged, or any of them, shall not exceed the proportion to which they or he would have been bound according to the rules of equity if no such settlement and discharge had been made. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-8 Settlement pending action

When any such settlement shall be made in a pending action, it shall be made in writing and the original or a signed copy filed with the court. L.1951 (1st SS), c.344.

N.J. Stat. § 2A:55-9 Several acts in condition in bond, bill, or contract

When the condition of a bond, bill or contract provides for the performance of more than a single act, an action brought thereon with respect to a breach or breaches occurring prior to the commencement of the action shall not bar the bringing of other actions for any breach or breaches occurring thereafter. L.1951 (1st SS), c.344.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026