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FDIC v. BIRCHWOOD BUILDERS

240 N.J. Super. 260 (1990)

573 A.2d 182

FEDERAL DEPOSIT INSURANCE CORPORATION, PLAINTIFF-RESPONDENT-CROSS-APPELLANT, v. BIRCHWOOD BUILDERS, INC., PO-KING, LTD., WILLIAM C. RAGANELLA, JR., ROSEMARIE RAGANELLA, ANTHONY RAGANELLA AND CLAIRE RAGANELLA, DEFENDANTS-APPELLANTS-CROSS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided April 2, 1990.

Attorney(s) appearing for the Case

Eugene P. O'Connell, attorney for appellants.

Cassidy, Foss & San Filippo, attorneys for respondent (Mary Ellen Edwards, of counsel and on the brief).

Before Judges BRODY, MUIR, JR., and SKILLMAN.

The opinion of the Court was delivered by MUIR, Jr., J.A.D.

This appeal focuses on the different rights an individual partner has in a partnership and how the differences regulate the exposure of the rights to liens and executions of a judgment creditor of an individual partner. The Uniform Partnership Law (U.P.L.) provides a partner with two pertinent property rights: (1) his right in the "specific partnership property" and (2) his rights to the more generalized...

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