15-105 – Discharge of One Obligor, Without Reservation.
§ 15-105. Discharge of one obligor, without reservation. 1. If an obligee releasing or discharging an obligor without express reservation of rights against a co-obligor, then knows or has reason to know that the obligor released or discharged did not pay so much of the claim as he was bound by his contract or relation […]
15-106 – Death of Joint Obligor.
§ 15-106. Death of joint obligor. On the death of a joint obligor in contract, his estate shall be bound as such jointly and severally with the surviving obligor or obligors.
15-107 – Release of Partner.
§ 15-107. Release of partner. A release of a partner from a partnership liability shall release his co-partners from the same liability to the creditor giving the release, but after a partnership has been dissolved, by consent or otherwise, any partner may make a separate composition or compromise with any partnership creditor, and such composition […]
15-102 – Co-Obligor Not a Party.
§ 15-102. Co-obligor not a party. A judgment against one or more of several obligors, or against one or more of joint, or of joint and several obligors shall not discharge a co-obligor who was not a party to the proceeding wherein the judgment was rendered.
15-103 – Consideration to Be Credited to Co-Obligor.
§ 15-103. Consideration to be credited to co-obligor. The amount or value of any consideration received by the obligee from one or more of several obligors, or from one or more of joint, or of joint and several obligors, in whole or in partial satisfaction of their obligations, shall be credited to the extent of […]
15-104 – Discharge of One Obligor, With Reservations.
§ 15-104. Discharge of one obligor, with reservations. Subject to the provisions of section 15-103, the obligee’s release or discharge of one or more of several obligors, or of one or more of joint, or of joint and several obligors shall not discharge co-obligors, against whom the obligee in writing and as part of the […]
15-101 – Definitions.
§ 15-101. Definitions. In this title, unless otherwise expressly stated, “obligation” does not include a liability in tort; “obligor” does not include a person liable for a tort; “obligee” does not include a person having a right based on a tort. “Several obligors” means obligors severally bound for the same performance.