Arizona § 47-3116 Joint and several liability; contribution

Arizona Statutes

§ 47-3116 — Joint and several liability; contribution

Arizona § 47-3116

Title 47Arizona Revised Statutes

Ch. 3NEGOTIABLE INSTRUMENTS

Art. 1General Provisions and Definitions

This text of Arizona § 47-3116 (Joint and several liability; contribution) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-3116 (2026).

Text

A.Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.

B.Except as provided in section 47-3419, subsection E or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.

C.Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection B of this section of a party having the same joint and several liability to

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A. Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.

B. Except as provided in section 47-3419, subsection E or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.

C. Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection B of this section of a party having the same joint and several liability to receive contribution from the party discharged.