North Dakota § 41-03-16 (3-116) Joint and several liability - Contribution

North Dakota Statutes

§ 41-03-16 — (3-116) Joint and several liability - Contribution

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-03 Negotiable Instruments

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

2.Except as provided in subsection 5 of section 41-03-56 or by agreement of the affected parties, a party having joint and several liability that pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.

3.Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection 2 of a party having the same joint and several liability to receive co

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1. Except as otherwise provided in the instrument, two or more persons who have the
same liability on an instrument as makers, drawers, acceptors, endorsers who are
endorsing joint payees, or anomalous endorsers are jointly and severally liable in the
capacity in which they sign.
2. Except as provided in subsection 5 of section 41-03-56 or by agreement of the
affected parties, a party having joint and several liability that pays the instrument is
entitled to receive from any party having the same joint and several liability
contribution in accordance with applicable law.

3. Discharge of one party having joint and several liability by a person entitled to enforce
the instrument does not affect the right under subsection 2 of a party having the same
joint and several liability to receive contribution from the party discharged.

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