Consumer Protection Law
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If conversation is not possible and each party agreed to pay $20K, but one party is not paying, then the only way to collect is filing suit for breach of contract against the non-paying party. The 3rd party is the one who has to sue for the money, since they were the one who was supposed to receive the money. If the 3rd party tries to sue the party who paid their share then the party who paid their share can file suit against the non-paying party for contribution and reimbursement to recover the $20K share.
This is under contract law, which is common law in NJ state courts, not statutory law.