New York § 15-103 Consideration to be credited to co-obligor

New York Statutes

§ 15-103 — Consideration to be credited to co-obligor

New York·Law GOB General Obligations·Title 1 Discharge of Joint Obligors·Art. 15 Modification and Discharge of Obligations

  § 15-103. Consideration to be credited to co-obligor.  The amount or\nvalue of any consideration received by the obligee from one or more of\nseveral obligors, or from one or more of joint, or of joint and several\nobligors, in whole or in partial satisfaction of their obligations,\nshall be credited to the extent of the amount received on the\nobligations of all co-obligors to whom the obligor or obligors giving\nthe consideration did not stand in the relation of a surety.\n

Free access — add to your briefcase to read the full text and ask questions with AI

§ 15-103. Consideration to be credited to co-obligor. The amount or\nvalue of any consideration received by the obligee from one or more of\nseveral obligors, or from one or more of joint, or of joint and several\nobligors, in whole or in partial satisfaction of their obligations,\nshall be credited to the extent of the amount received on the\nobligations of all co-obligors to whom the obligor or obligors giving\nthe consideration did not stand in the relation of a surety.\n

New York § 15-103 (Consideration to be credited to co-obligor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.