New Jersey Statutes
§ 42:3-5 — Contracting debts
New Jersey § 42:3-5
JurisdictionNew Jersey
Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
This text of New Jersey § 42:3-5 (Contracting debts) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 42:3-5 (2026).
Text
No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.
Free access — add to your briefcase to read the full text and ask questions with AI
Nearby Sections
15
§ 42:3-11
Interests deemed personal, transfer§ 42:3-13
Division of profits of business§ 42:3-13.2
Time of renewal§ 42:3-17
Trustees may sue or be sued§ 42:3-18
Validity of deed made by trusteesCite This Page — Counsel Stack
Bluebook (online)
New Jersey § 42:3-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/42/42%3A3-5.