2A:19-3. Transfer of property within 4 months of assignment to give preference void; recovery of property
110 words·~1 min read·
/nj/title-2a/chapter-19/2a-19-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any person being insolvent or in contemplation of insolvency shall, within 4 months before the making of a general assignment, and with the intention of preferring any creditor or person under liability for him, mortgage, pledge, assign, pay or transfer any of his property, or procure or suffer any of his property to be taken, attached or levied upon, or any lien or encumbrance to be acquired thereon by legal process or otherwise, such preferential transaction shall be void as against the assignee. The assignee may recover the property given by way of preference, or the value thereof, from the person so receiving the same or so benefited thereby.